Wed, 10 Aug 2022

Battery maker CATL reportedly puts US factory plans on hold

China's CATL, the world's largest battery maker, will delay a decision on building a multibillion-dollar factory in the US, due to the controversial visit by House Speaker Nancy Pelosi to Taiwan, Bloomberg reported on Tuesday.

Contemporary Amperex Technology Co (CATL) was expected to announce its choice for a site in the US in the coming weeks, but will now wait until September or October, Bloomberg quoted sources familiar with the matter as saying.

It was reported in May that CATL was in the final stages of vetting locations to build electric vehicle batteries that would supply Ford, Tesla and BMW. Potential sites were said to include South Carolina and Kentucky, where those automakers have assembly plants. Locations in Mexico are also reportedly under consideration.

READ MORE: China slaps trade restrictions on Taiwan

Tuesday's visit to Taiwan by US House of Representatives Speaker Nancy Pelosi was strongly condemned by China, which views the island as its sovereign territory. Beijing branded Taiwan and the US "destroyers of peace" on the same day.

For more stories on economy & finance visit RT's business section

(RT.com)

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