Coronavirus to hit global battery market by $10 billion as industry counts cost of shutdowns

The coronavirus will impact the growth of the battery market by around $10 billion this year, according to Ray Kubis who was forced to reconsider his previous forecast following the global pandemic.

In April, Kubis— chairman of bipolar lead battery maker Gridential— estimated the global market would grow by an average of 19% to $80 billion amid the developing trend for EVs, and high voltage and 48v hybrid vehicles.

However, in a report on 9 September, he revised his estimate for transportation batteries to $70 billion, reflecting about 7% growth.