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CATL, the little-known Chinese battery maker that has the US worried
It is the world’s biggest battery maker, it powers electric vehicles for Tesla, Volkswagen and BMW, and its EV technology is miles ahead of US offerings, say experts
But despite the fact that the company controls nearly two-fifths of the world’s EV battery market – and has powered cars made by brands including Tesla, Volkswagen and BMW – it has long flown under the radar of US politics. Last week, energy secretary Jennifer Granholm told a discussion panel: “We are very concerned about China bigfooting our industry in the United States even as we’re building up now this incredible backbone of manufacturing.” Research recently published by Rhodium Group concluded that “Chinese EV and battery companies are increasingly stuck between a rock and a hard place” as they try to navigate their rising unpopularity in the US while Beijing pushes them to internationalise.
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