Chinese EV battery makers, including SVOLT and CATL, are halting their German growth plans due to declining EV sales in Europe's largest auto market. SVOLT specifically cancels a battery plant in Lauchhammer, Brandenburg, citing a new European strategy and a canceled BMW order.
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🇨🇳 SVOLT Energy Technology, spun off 🇨🇳 automaker Great Wall Motor, would halt plans to build a battery cell plant in Lauchhammer in eastern Germany's Brandenburg state, citing the "new European strategy" and the cancellation of a large order from BMW. SVOLT also cast doubt on… https://t.co/tJaSFRoCgQ
Chinese makers of EV batteries are curtailing their production plans in Germany as falling EV purchases in Europe's largest auto market hamper their sales. https://t.co/0CCNESzz88
China's SVOLT, like CATL, halts German growth plans as EV sales fall https://t.co/G0yc6RfMuw
China's SVOLT halts German growth plans, like CATL, as EV sales fall https://t.co/LXO0dr6Ni6
China's SVOLT halts German growth plans, like CATL, as sales fall https://t.co/MBUwM4gV6m