China's Pumping Big Money Not Just Into Chip Sector But Also EV Batteries: Key Tesla, Nio Suppliers Among Those Eligible To Get $830M R&D Funding
Portfolio Pulse from Anan Ashraf
China is set to allocate over $830 million to advance solid-state battery technology, benefiting key suppliers like Tesla's CATL and Nio-backed WeLion. This investment aims to enhance safety, lifespan, and charging speed of batteries, potentially unlocking a multi-trillion yuan market.
May 29, 2024 | 12:15 pm
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Nio-backed WeLion New Energy Technology is eligible for China's $830M funding to advance solid-state battery technology, which could enhance Nio's battery offerings.
WeLion, backed by Nio, is set to receive funding for solid-state battery R&D. This could lead to significant improvements in Nio's battery technology and product offerings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
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Tesla's supplier CATL is set to benefit from China's $830M investment in solid-state battery technology, potentially enhancing battery safety, lifespan, and charging speed.
CATL, a key supplier for Tesla, is among the firms eligible for the funding. This investment could lead to advancements in battery technology, benefiting Tesla's product offerings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80