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Northvolt collapse lays bare Chinese EV supremacy
Competing against Beijing on electric vehicles and batteries is not for the fainthearted
Blue chip investors like Baillie Gifford and Goldman Sachs found Mr Carlsson’s original vision — to develop the world’s greenest battery cell — simple and compelling. They cite not only tougher competition inside China, but also intensifying pressure from Chinese carmakers in markets like Brazil, Mexico, the UK, Australia and Thailand. The Inflation Reduction Act has ignited a record level of investments in battery plants stretching from Michigan to South Carolina.
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