FRANKFURT (Reuters) -Battery output and trade in Germany dropped sharply in 2024 amid a slowdown in the roll-out of electric cars and competition from Asian producers, electronics industry association
Germany Faces Decline in Battery Production and Trade Amid Competition
FRANKFURT (Reuters) -Battery output and trade in Germany dropped sharply in 2024 amid a slowdown in the roll-out of electric cars and competition from Asian producers, electronics industry association ZVEI said on Tuesday, asking policymakers to help stem the decline.
Market volumes, describing production plus imports minus exports, in the industry fell 16% in 2024 to a total value of 20.5 billion euros ($23.8 billion), mostly due to weaker demand for lithium-ion batteries, which are used in e-mobility.
"Decisive political action is needed to prevent Germany from losing further ground as a battery manufacturing location," said Christian Rosenkranz, chairman of ZVEI's battery section and managing director of member firm Clarios Germany.
He demanded more competitive energy costs, faster approval procedures, cuts to red tape, and reliable and targeted funding, especially in research.
The areas are being addressed by the new coalition government, that is trying to boost economic growth and overcome setbacks of recent years with the help of a billion euro tax cut and spending packages.
($1 = 0.8617 euros)
(Reporting by Vera Eckert, editing by David Evans)
