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The battery industry is currently experiencing intense competition, with lithium-ion technology dominating the market. However, the recent bankruptcy of the Swedish battery manufacturer Northvolt illustrates the struggles American and European producers face in putting forth quality products that can compete globally. As the founder of China's CATL, Robin Zeng, noted, Western manufacturers often grapple with incorrect designs, processes, and equipment.
With China and South Korea controlling over 70% of the global battery market, it becomes imperative for Western countries to develop unique selling propositions (USPs) that allow them to stake their claim in this critical sector.