China taps markets for $10bn to cement clean tech supremacy

Quick Summary

But in a sign of the allure of China’s cheap batteries, the Kia brand of Korean auto group Hyundai plans to use CATL batteries in a new EV model, marking the first entry of non-Korean-made batteries in to the domestic market.

Shenzhen-listed Tianqi Lithium, one of the world’s top producers of lithium chemicals for electric vehicle batteries, is aiming to raise between $1bn and $2bn in a secondary listing in Hong Kong, according to an investor close to the firm.

China’s EV battery capacity market share will decline marginally as the US and Europe offer generous subsidies to build plants closer to carmakers, but is projected to still stand at about two-thirds by 2025.

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Article Details

Author / Journalist: Edward White

Category: MarketsFinanceInvesting

Topics: Cent China Catl Share Batteries Market Financial According Battery Global

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 00:15:14

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 6 minutes read

Article Length: 942 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 6903

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