Batteries, batteries, batteries. The race to attract this industry of the future, and power the electric vehicles that will rule the roads, is as frantic as the rush for AAA cells after an eight-year-old opens their birthday presents.
Scale, capital and cost: it all points to China. Battery gigafactories in high-income countries are likely to meet the same fate as solar panel factories, television factories and, indeed, a previous generation of battery factories in high-income countries. Certainly, there will not be a dozen national battery industries to support a dozen national auto industries.Foto: Adrian Dennis/AFP/NTB
