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What the numbers say: Bai Houshan is the founder and chair of Ronbay Technology. This Shanghai-listed company dominates the global market for high-nickel cathode electrodes used in EV batteries. Cathode electrodes represent up to 34% of EV battery component costs. Ronbay aims to expand its capacity six-fold by 2025. Why it matters: Bai's cathode electrode production challenges traditional automakers, especially in the EV and battery sectors. It highlights the U.S. and Europe's struggle to compete with China's cleantech and battery material advancements. IDTechEx predicts 12-fold growth in demand for EV battery materials by 2033; this presents a significant market opportunity. Where to see the impact: Ronbay is expanding its operations to the U.S. and Europe to exploit the increasing demand for EV battery materials, intensifying the global competition with South Korean rivals like EcoPro BM and LG. Chinese materials companies like Ronbay entering foreign markets may cause trade disputes and disrupt local cleantech manufacturing efforts in the U.S. and Europe. |
