With the growing number of electric vehicles on the streets and increased electrification in many industries, the demand for batteries is expanding significantly. According to the European Automobile Manufacturers’ Association (ACEA) the number of new electric vehicle (EV) registrations rose by 63 percent in 2021 as compared to the previous year. Consequently, experts predict battery production capacities in Europe to multiply by a factor of 20 by 2030.
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