China pauses approvals for battery storage manufacturing projects
China, the world’s largest manufacturer of batteries for energy storage, has temporarily suspended approvals for new factories, Chinese financial news outlet Cailianshe reported on Saturday.
The pause comes as authorities conduct a review of existing and planned energy storage production capacity, with a focus on battery cells, the report said, citing industry sources.
The move comes amid growing concerns about overcapacity risks in the energy storage sector, according to the report. That is despite a surge in demand for batteries used to balance grids and provide backup power.
