China to Spend $828 Million on High-Tech EV Batteries, China Daily Says
- Investment to focus on all-solid-state batteries, report says
- EU set to announce results of probe into China’s EV subsidies
This article is for subscribers only.
China is set to invest about 6 billion yuan ($828 million) to boost the development of a more powerful and advanced type of electric vehicle battery technology, China Daily reported.
The plan was launched earlier this year and is focused on all-solid-state batteries, the media outlet reported Wednesday, citing sources it didn’t identify. The world’s biggest battery maker, Contemporary Amperex Technology Co. Ltd., and major automakers BYD Co. and Zhejiang Geely Holding Group Co. are among the list of companies selected for the program, it said.