
China Puts New Restrictions on E.V. Battery Manufacturing Technology
The plan could make it harder for Chinese electric carmakers to set up factories overseas, as the European Union has pushed them to do. Effective immediately, any overseas transfer of these technologies through trade, investment or technological cooperation will first require a license from the Chinese government, the Ministry of Commerce said in a statement.
Chinese manufacturers have achieved important breakthroughs in the past five years in making inexpensive batteries that can provide considerable driving range for electric vehicles. The new generation of battery technology is central to China's success in building electric cars that are considerably cheaper than electric and gasoline-powered cars made in other countries.
The European Union has been pressing Chinese automakers and battery manufacturers to set up operations in the bloc as an unofficial condition for continued growth in sales of Chinese cars there. The United States has been more wary of Chinese investment, but plans for at least two Chinese electric car battery factories have been proposed in Michigan.
The new restriction on battery technologies comes less than three months after Beijing began requiring licenses for exports of seven kinds of rare earth metals and the magnets made from them. Those restrictions have already caused considerable disruption to companies in the West and Japan that manufacture cars, robots and other advanced devices that require electric motors with small but powerful rare earth magnets.
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Associated Press
10 minutes ago
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Associated Press
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With over 75 years of history, this renowned Japanese enterprise is one of the major integrated trading houses in Asia, actively engaged in diverse sectors including aerospace components, advanced machinery and automation systems, and chemical products, it serves industry leaders across multiple sector for customers like Toshiba and Hitachi. With annual revenue of around ¥30 billion, the firm maintains operations in North America, Europe, and Southeast Asia. During the visit, the delegation toured Graphjet's R&D production facilities, gaining valuable insights into the company's manufacturing process and quality assurance system. 'This engagement marks a meaningful step forward in strengthening mutual understanding and laying the groundwork for future collaboration in the field of sustainable graphite and next generation technology.' said Chris Lai the CEO of Graphjet. 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Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet's industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet's ability to develop and manufacture its graphene and graphite products; and (vii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the 'Risk Factors' section of the documents to be filed by Graphjet from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations. Graphjet Technology Contacts Investors [email protected] Media [email protected] ###