NIO Stock Is in the Spotlight as China Preps to Invest in Solid-State Battery Research
NIONIO(NIO) investorplace.com·2024-05-30 02:36

The next step in electric vehicle (EV) battery innovation may come from China. As China’s EV market booms, the economic powerhouse is focused on the batteries to power the industry. According to recent reports, China’s government is at work on a state-sponsored project that will invest 6 billion yuan ($830 million) in solid-state battery production. So far, China has selected six companies to receive state funding as part of this initiative. This means a boost for several Chinese EV stocks. But it could als ...