From January to May 2022, Taiwan's lithium battery exports amounted to US$280 million for an increase of 86.1% compared to the same period last year. The ongoing pandemic has driven long-distance business opportunities, while the energy policies adopted in various countries have increased the demand for information and communication products, electric bicycles and energy storage devices, resulting in the upsurge of procurement of lithium batteries from Taiwan.
During this period, the United States and the Netherlands were the two largest export markets for Taiwan's lithium batteries, accounting for over 30% of Taiwan's total lithium battery exports. The main export products consisted of energy storage systems, electric vehicles, and electric bicycles.
The Taiwan government has recently been actively investing in the energy storage and electric vehicle sectors, and plans to establish supply chains in cooperation with the United States and Europe and other countries through deployments overseas so as to upgrade the important status of Taiwan's supply chains, while increasing business opportunities.