, made cars as well as batteries. For that reason, many rival carmakers in China—including foreigners such as Tesla and’s success purely to economic nationalism. According to James Frith of Bloombergwas faced with the winding down of subsidies in 2019, it quickly leapfrogged its South Korean rivals to produce the latest high-nickel batteries, which run for longer than the cheaper lithium-iron-phosphate ones that had been China’s staple.
Yet energy—even the clean stuff—is dirty business, muddied by geopolitical rivalries and economic jingoism. There are already fears in the West thats profitability in China will enable it to offer cut-price products abroad, reopening wounds caused when China’s subsidised solar panels swept the world in the 2010s. Moreover, advanced batteries, like semiconductors, are increasingly discussed in terms of an arms race.
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