China's Battery Titans BYD And CATL Forge Alliance To Power EVs With Solid-State Batteries, Posing Challenge To Japan And The West
Portfolio Pulse from Benzinga Neuro
China's leading battery and car manufacturers, including BYD Co Ltd (OTC:BYDDY) and CATL, have formed the China All-Solid-State Battery Collaborative Innovation Platform (CASIP) to develop solid-state batteries for electric vehicles (EVs). This initiative aims to establish a solid-state battery supply chain by 2030, challenging the dominance of Japanese and Western companies in the EV market. The move is significant amid a U.S. ban on Pentagon battery procurements from Chinese manufacturers, set to commence in October 2027.
February 13, 2024 | 9:52 am
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BYD Co Ltd (OTC:BYDDY), as a key participant in the CASIP initiative, is positioned to benefit from the development of solid-state batteries, potentially enhancing its competitiveness in the global EV market.
BYD's involvement in the CASIP initiative directly aligns with its core business of electric vehicles and batteries. The development of solid-state batteries could significantly improve the performance and cost-effectiveness of EVs, giving BYD a competitive edge in the rapidly growing global EV market. The initiative's success could lead to increased market share and revenue for BYD, especially as the world shifts towards cleaner energy solutions.
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