Two major Chinese battery companies, Guoxuan High-Tech, and EVE Energy, are reportedly planning significant investments in the United States by establishing battery manufacturing facilities.
Guoxuan High-Tech’s subsidiary, Guoxuan USA, intends to construct a battery factory with an annual production capacity of 40 GWh in Illinois. EVE Energy, on the other hand, has announced a joint venture with a $2.64 billion investment commitment for battery production.
China’s Battery Industry’s Global Vision
These moves signal the companies’ interest in the U.S. market and underscore China’s battery manufacturing industry’s global ambitions and competitiveness. Both Guoxuan High-Tech and EVE Energy claim to have taken precautionary measures to ensure the safety and efficiency of their U.S. investments.
Guoxuan High-Tech has asserted that it has a dedicated international team that conducts comprehensive assessments and reports in advance to address potential risks and challenges. EVE Energy has also engaged in extensive information exchange with its partners to mitigate potential risks.
While uncertainties remain regarding these investment plans, they are expected to introduce new competitive dynamics into the U.S. battery market. Additionally, these investments align with China’s strategy to internationalize its battery manufacturing industry and bolster the global presence of this sector.
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(Via)
