Core Insights - The global electric vehicle (EV) battery market is facing an oversupply situation, with production capacity expected to reach three times the actual demand by 2030, particularly in North America [2][12] - Major automakers like Ford and General Motors are adjusting their production plans due to declining EV demand and regulatory changes, leading to significant cuts in battery production capacity [5][7] Group 1: Market Overview - Chinese companies hold a 70% share of the global EV battery market, prompting the U.S. and Japan to push for domestic battery production to reduce reliance on China [2][10] - As of September, there are over 1,000 battery-related investment projects in the U.S., but some have been halted due to the unexpected slowdown in EV demand [6][10] Group 2: Company-Specific Developments - Ford's EV business has been struggling, with losses exceeding three years, leading to a 35% reduction in planned battery capacity and potential discontinuation of the F-150 Lightning model [5][9] - General Motors announced layoffs of 1,550 workers at its joint battery plants with LG Energy Solutions due to short-term EV demand decline [6][9] - Panasonic has postponed the full operational timeline for its Kansas battery factory, initially set for the end of 2026, due to reduced sales from major client Tesla [7][9] Group 3: Future Projections - The North American battery production capacity is projected to quadruple in the next five years, exacerbating the oversupply issue [2][12] - Analysts predict that the oversupply of EV batteries could lead to financial burdens for many manufacturers, especially those that have continued to invest under government support [12]