Why most battery-makers struggle to make money
This is not your classic boom-and-bust cycle
Boom-and-bust cycles all tend to look the same. A consumer fad or industrial urgency fuels demand for a product. Prices rise. Producers invest in capacity. By the time new supply materialises it outstrips already sated demand. Prices crash. Then, at some point, things get so cheap as to set off another demand upswing. And so on.
This article appeared in the Business section of the print edition under the headline “Power drain”
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