China Is Becoming A Global EV Battery Building Behemoth [Yahoo! Finance]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Yahoo! Finance
Now, the country's biggest players are opening battery factories overseas and steadily positioning themselves as the linchpin of the global lithium economy. As in other multinational industries, plant offshoring is a means of chasing higher profit margins. These batteries aren't only powering EVs, but also serving as energy stores supporting alternative energy infrastructure. The international effort didn't come without cause. The Chinese government hinted last year that it would end subsidies for the country's EV industry, which is now considered mature enough to support itself financially. It's a viewpoint that feels very conservative, considering that over 80% of the world's battery cells are produced in China. Wired looked into the global spread of Chinese battery production and noted a 29% profit margin on overseas-built batteries, compared with 23% for domestically produced batteries. Armand Meyer, a senior research analyst at Rhodium Group, said: "They are ready to leave th
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