China to invest $845 million on ramping up its advanced EV battery ambitions | CNN Business

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Hong Kong CNN  — 

China plans to invest around 6 billion yuan ($845 million) to develop next-generation battery technology powering electrical vehicles (EVs), even as its industrial policy has sparked overcapacity concerns and become a key target of US and European complaints.

A total of six companies — including CATL, the world’s biggest battery manufacturer, and major automakers like BYD and Geely —

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