Svolt warns of supply bottlenecks for EV batteries

First chips (China.Table reported), now batteries: Svolt President Yang Hongxin has warned of a shortage of EV batteries at an industry forum. Currently, only 60 to 80 percent of all orders can be fulfilled, Yang said, according to a report by business magazine Caixin on Tuesday. The reason is shortages of some raw materials that emerged last year. The materials in short supply included chemicals used in electrolytes for lithium cells, for example, according to research by China Merchants Securities, Caixin said. Svolt is one of China’s major battery manufacturers and is currently planning to invest billions in new battery factories in Saarland (China.Table reported).