Market Chatter: China Battery Makers Reviewing Overseas Factory Strategies

MT Newswires Live11-20

China-based battery manufacturers are reassessing their plans to build factories in Europe and the US following policy and supply chain challenges, Yicai Global reported Tuesday.

Farasis Energy (SHA:688567) Chairman . the construction of its Germany and US factories is suspended, and only its factory in Turkey is operational. Its Turkish factory has yet to break even, the report said.

Svolt Energy Technology will also suspend operations in Europe and cancel plans of building two factories in Germany, the report said.

Rept Battero Energy (HKG:0666) Chairman Cao Hui will establish its first overseas factory in Southeast Asia and hope to reach profitability "as soon as possible," Yicai reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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