Foreign Media: China has suspended approval for new energy storage battery production projects, due to concerns over market oversupply and cutthroat price competition.
According to industry insiders, the large number of planned new projects has raised concerns among policymakers about future supply surpluses, corporate layoffs, and resource waste. In recent years, with the rapid expansion of the new energy industry, the energy storage battery sector has attracted substantial capital. However, some companies are now facing pressure from slowing order growth and continuously declining prices.
Original Source: toutiao.com/article/1876045373424640/
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