Lithium batteries have already put the world’s superpowers on a collision course as the technology is on the cusp of transforming everything from transport to internet services.

“The new clean energy geopolitical battle is being fought throughout the lithium ion battery supply chain,” Dan Clarke, thematic analyst at GlobalData, said in a new podcast from the research firm.

He warned that while today’s geopolitics may be concerned over Russia threatening to choke the supply of gas in retaliation of the unprecedented sanctions levied against it after the invasion of Ukraine, lithium batteries will play a bigger role in the years to come.

China and the US are already ensuring that they will have a dominant role in the new era of lithium batteries. Both nations have subsidised the market and launched a plethora of initiatives towards that end. However, he said that China is so far in the lead, having already splurged billions of dollars on these initiatives.

“The subsidies really are enormous,” Clarke said.

Lil Read, senior analyst at GlobalData, added that the advent of modern lithium batteries will also affect how we tackle global warming and climate change over the next few decades.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“It is going to be so important and one of the most significant industries over the next 10 years, so we really do need to start thinking about them,” she argued during the podcast.

The battery industry is set to be one of the most significant over the next 10 years, according to GlobalData, which predicts that revenues will exceed $168bn by 2030.

There are also a pelthora of businesses jumping on this opportunity. For instance, Swedish Northvolt has teamed up with the likes of Volkswagen and Volvo to build a series of gigafactories to produce lithium batteries at scale.

In the UK, Britishvolt has inked partnerships with Glencore in order to build a plant able to recycle lithium batteries.

GlobalData is the parent company of Verdict and its sister publications.