There's a good chance that whatever device you're using to read this story runs off a battery made in China. And until very recently, that was true of a great many electric vehicles as well. That's because the U.S., Europe, Japan and other parts of the globe spent decades outsourcing batteries and battery production to China for cost reasons. Then that country took this lead and ran with it to the point where it now accounts for more than 80% of battery manufacturing capacity, according to S&P Global.
