Also, U.S. proposals to revolutionize the auto industry.
China is far ahead of the rest of the world in the development of batteries that use sodium, which are starting to compete with ubiquitous lithium power cells.
The facility will produce batteries the size of shipping containers to help electric utilities stabilize grids and use more renewable energy.
Competition, not cooperation, has driven the bulk of climate progress over the past few years.
The electric car company’s decision to slash prices appears to have paid off in reviving demand.
The Biden administration hopes its guidelines for up to $7,500 in tax credits will encourage automakers to reduce their reliance on China for batteries and raw materials.
Investment plans for U.S. battery production have increased since President Biden signed a law that offers generous incentives for electric cars and green energy.
An unexpected decline in the price of an essential battery material, along with those of other commodities, is good news for buyers. But experts disagree on how long low prices will last.
A $7.8 billion factory planned by a Chinese company in eastern Hungary has become divisive even within the party of Prime Minister Viktor Orban, who championed it.
The German automaker announced a plan to accelerate its transition to battery-powered vehicles and bolster operations in China and North America.