Nearly half of the announced investments, led by more than 500 companies in 54 countries, are in battery technology. The range of countries belies the dominant role that China and Chinese companies play, with 55 percent of total announced clean manufacturing investments from Chinese companies. China has built enormous manufacturing capacity domestically, and increasingly, grown production abroad to skirt trade restrictions and assert itself as the global leader in the future of energy.
China leads the global supply chain by every metric. China dominates battery supply chains, controlling over 70 percent of cell manufacturing and most of the processing of minerals that go into these batteries. Among the 25 companies with the highest announced clean‑energy manufacturing investment, 14 are headquartered in China, reflecting the global leadership of Chinese companies. Put another way, there are 86 Chinese companies that have announced more than $1 billion in manufacturing investments, compared with 19 U.S. companies.