China to supervise lithium battery supply chain to help EV makers boost profits

China to supervise lithium battery supply chain to help EV makers boost profits

Source: CHUTTERSNAP/Unsplash

China will strengthen its supervision of the lithium battery supply chain to deal with shortages that are cutting into the profits of electric vehicle (EV) manufacturers, its Ministry of Industry and Information Technology said on Friday.

With explosive demand growth for electric cars and a complicated COVID-19 situation, the supply chain of China‘s lithium batteries is severely unbalanced, the ministry said in a statement on its website.

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