CATL, the world's largest EV battery manufacturer, might slow down its investment plans related to the first lithium-ion cell gigafactory in North America.
According to earlier reports, the Chinese company was planning a large battery plant in Mexico and/or the US, but US-China tensions and the new Inflation Reduction Act (IRA) might impact the plans.
Reuters' unofficial sources say that CATL slowed down preparations for the investment in North America due to the IRA's restrictions on sourcing EV battery materials, which are expected to significantly increase costs.
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