Chinese Battery Makers Slam Brakes on German Expansion as EV Sales Stall

With each day that goes by, there is more and more news indicating the EV market is saturated. First, it was manufacturers cutting back on EV investments, then a gradual shift back to hybrid vehicles - and now it's China pulling out of investments in Germany due to lack of demand. Chinese electric vehicle battery producers are scaling back their expansion in Germany due to a drop in EV sales, according to Nikkei Asia.

. halted its expansion in Arnstadt after Volkswagen reduced EV production in Zwickau. Instead, is now focusing on a new facility in Hungary. The decline in Chinese investment in German battery production aligns with Germany's late 2023 decision to end EV purchase subsidies, leading to a drop in electric car registrations to 12.2% in April.

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