BERLIN : Chinese investment in Europe is shifting from mergers and acquisitions to greenfield projects mainly in battery production for electric vehicles, according to 2022 data analysed by independent research providers MERICS and Rhodium Group.
Tencent's acquisition of Sumo Digital was the only transaction worth over 1 billion euros , with most other major investments in battery plants by companies such as CATL, Envision AESC, and SVOLT. Europe has some of the most stringent regulations on electrification and the green transition but its battery industry lags behind Asian players, with much of Europe's planned battery capacity coming from Japanese, South Korean or Chinese producers with greater know-how.
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