The article reports about leading battery makers in the US scaling back their investments and laying off workers due to sluggish demand in the electric vehicle industry. It mentions specific companies such as LG Energy Solution and SK On from South Korea, and their joint ventures with carmakers like General Motors, Ford, and Tesla. The article includes insights from industry experts and analysts who attribute the slowdown in demand to legacy carmakers not selling affordable EVs, as well as the impact of tax credits under President Biden’s climate legislation. The impact on various stakeholders, including Japanese battery makers like Panasonic, is also discussed. Additionally, it provides a link to a video about the global race for lithium batteries produced by the Financial Times.
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