May 09, 2024 04:50 AM
BUSINESS
China Moves to Rein in Battery Boom Amid Overcapacity Concerns
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In 2023, China’s production of lithium-ion batteries grew 25% year-on-year to 940 gigawatt hours
China’s industry regulator Wednesday published draft rules for the lithium battery sector, an attempt to rein in freewheeling expansion and address overcapacity concerns.
The draft rules, issued by the Ministry of Industry and Information Technology (MIIT) as revisions to two 2021 industry documents, raise minimum standards for energy density, lifespan and other battery specifications. The ministry will collect feedback for the new rules until May 13.
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