Why did the US import EV batteries from Korea?

The United States imported a record volume of EV batteries from Korea in the first six months of the year, marking a quadruple-digit on-year surge, as it seeks to reduce reliance on China amid ongoing tariff rows.

Why do Korean batteries rely on China?

Korean battery producers rely heavily on China for materials. China provides 96.6 percent of Korea’s precursor cathode materials, 93.7 percent of its synthetic graphite, and 80.4 percent of its lithium hydroxide. This heavy reliance exposes the country to supply disruptions, price fluctuations, and geopolitical risks.

Are batteries a new front in a battle between China & South Korea?

A global surge in renewable energy and data centre demand is powering a boom in using batteries for storage on electricity grids, creating a new front in the battle between Chinese and South Korean companies that have dominated cell production for electric vehicles.

Which country imports the most EV batteries?

Of total U.S. EV battery imports, China accounted for 38.1 percent during the January-June period, far from its 72 percent claim last year, while Korea’s share surged from just 0.73 percent a year ago to 13.1 percent.

Are South Korean companies investing in energy storage systems?

Less than a decade ago, South Korean companies held over half of the global energy storage system (ESS) market with the rushed promise of helping secure a more sustainable energy future. However, a string of ESS-related fires and a lack of infrastructure had dampened investments in this market.

Will China & South Korea continue to be a battery producer?

Battery producers in China and South Korea will remain indispensable, even as Europe and the US expand their respective battery capacities.