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Chinese Battery giants, Guoxuan High-Tech, EVE Energy expand in US Market
Industry News- Sep 13,23
Guoxuan USA, is planning the construction of a battery factory in Illinois with an annual production capacity of 40 GWh.
Guoxuan High-Tech's subsidiary, Guoxuan USA, is planning the construction of a battery factory in Illinois with an annual production capacity of 40 GWh. Meanwhile, EVE Energy has unveiled a joint venture with a significant $2.64 billion investment commitment aimed at battery production.
These strategic moves clearly reflect the companies' keen interest in the US market and emphasise China's battery manufacturing sector's worldwide ambitions and competitive edge. Both Guoxuan High-Tech and EVE Energy assert that they have taken proactive measures to ensure the safety and efficiency of their investments in the United States.
Guoxuan High-Tech has emphasised the presence of a dedicated international team responsible for conducting thorough pre-assessments and reports to address potential risks and challenges. Similarly, EVE Energy has engaged in extensive information exchange with its partners to proactively manage potential risks.
Although uncertainties persist regarding these investment plans, they are anticipated to introduce fresh competitive dynamics into the US battery market. Furthermore, these investments align seamlessly with China's overarching strategy to internationalise its battery manufacturing industry and enhance its global presence in this critical sector.
Source: gizmochina.com
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