The world's largest battery maker CATL and its rivals in China were put on notice this week with a message from the top.
One of the five, a senior manager at CATL, who like others asked not to be named because of the sensitivity of the matter, said Xi's remarks were concerning for the whole industry.
Xi was quoted by Xinhua as saying regulation had a place to ensure that emerging industries like battery production developed in a “steady and prudent manner” to avoid “a boom and a headlong rush that would dissipate in the end".Government scrutiny of CATL and its smaller rivals, which represent 60% of global battery supply, would mark a speedbump for an industry that has been more accustomed to benefitting from subsidies.
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