The automotive industry is very important for the German economy, with leading companies such as Volkswagen and Daimler based in the country. Although, the EV era has already started for the automotive industry, German OEMs are far from developing their own battery technology and depend on key Asian players such as BYD and CATL for the supply of battery cells. Even though the German government is pushing for developing local industry for battery cells, it will take considerable time and investment to achieve technological expertise and economies that can compete with their Asian counterparts – Parv Sharma