US Government Says Relying on Chinese Lithium Batteries Is Too Risky

Quick Summary:

A new document shows the Department of Homeland Security is concerned that Chinese investment in lithium batteries to power energy grids will make them a threat to US supply chain security.

Currently, CATL and BYD lead the global energy storage battery market by far, with 40 percent and 12 percent market shares, respectively, according to South Korean energy research firm SNE Research.

These batteries are essential for global energy transition, and Chinese battery companies see them as an opportunity to widen their product markets.

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Article Details

Author / Journalist: Zeyi Yang

Category: TechnologyEconomy

Markets: United StatesChinaSouth Korea

Topics: Security / Security News Business / National Affairs Business Security / National Security

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 10:00:00 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: wired.com

Language: English

Article Length: 1535 words

Reading Time: 9 minutes read

Sentences: 55 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Wired

News ID: 23150705

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