Chinese battery industry faces consolidation wave

A wave of consolidation has swept across China’s battery industry, leading to cancelled investments and the exits of smaller players even as leaders CATL and BYD push ahead with their expansion plans. In the first seven months of the year, 19 battery gigafactory projects were cancelled or postponed in China, according to London-based research firm Benchmark Mineral Intelligence.

In April, Nanfang Black Sesame Group, China’s largest puréed foodmaker, told investors that it had suspended its planned $3.5bn battery project in the eastern province of Jiangxi, citing “profound changes” in the new energy market landscape. The group had only last year announced a pivot to energy storage. “The company will not act too hastily . . . and wait for our best chance to execute to avoid higher investment costs and related losses,” it said in a stock exchange filing.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Kazakhstan Now Seeks $160B from International Oil CompaniesKazakhstan's legal battle against international oil majors involved in the Kashagan oil field has intensified, with the nation's claims now exceeding $160 billion.
La source: OilandEnergy - 🏆 34. / 68 Lire la suite »

A Look at the World's Top 15 Silver-Producing CompaniesDiscover the world's top silver-producing companies, industry trends, challenges, and forecasts for 2024 in this comprehensive overview of silver's global impact.
La source: OilandEnergy - 🏆 34. / 68 Lire la suite »

New Strictly star Pete Wicks shuts down two companies with £1m debt ahead of show debut...Strictly's Pete Wicks shuts down two companies with £1m debt
La source: TheSun - 🏆 64. / 61 Lire la suite »

'It's war': Elon Musk's X sues companies for not advertising on its platformThe social media network, formerly known as Twitter, claims firms unlawfully conspired to boycott the site, causing it to miss out on 'billions of dollars' in revenue.
La source: SkyNews - 🏆 35. / 67 Lire la suite »

Shanks seeks school transport cut solution with help from seven bus companiesThe former teacher has written to bus companies to find a solution before South Lanarkshire Council makes its final decision.
La source: Daily_Record - 🏆 9. / 89 Lire la suite »

Water companies face a record £168m combined fine for sewage spillsThe water regulator said it has uncovered a 'catalogue of failure'
La source: i newspaper - 🏆 8. / 89 Lire la suite »