Battery capital raisings drying up
Funds raised in the global cell manufacturing industry dropped substantially in Q2/24 as a number of battery projects in the US and Europe were delayed or pushed back and the true economic impact of cell manufacturing overcapacity on industry profitability began to be better appreciated. While it was a difficult quarter for battery raw materials funding, Q2/24 also saw the least raised for cell manufacturing of any quarter since 2019, with just under US$3bn being raised during the quarter. US$2.2bn was raised in raw materials, while over US$20bn was allocated for electric vehicles during the quarter.
Topics
Battery Raw Materials
cell manufacturing
Debt
Equity
EVs
Fundraising