Tesla Eyes Battery Supplier Sunrise New Energy As Chinese EV Demand Surges

Tesla shows interest in Chinese battery components maker Sunrise New Energy's products
Sunrise shares rose up to 11% on the news of Tesla's interest
Sunrise makes graphite anode material for lithium-ion batteries through a joint venture
The company is building a large manufacturing plant in China's Guizhou province
Tesla has been seeking supply deals with lithium companies to meet battery demand

reuters.com

Relevant topic timeline:

8/16/2023

Tracking the EV battery factory construction boom across North America

Main topic: The onshoring of battery manufacturing for EVs in the United States. Key points: 1. The number of battery factories in the US has increased significantly, with about 30 factories either planned, under construction, or operational. 2. The Inflation Reduction Act (IRA) signed by President Joe Biden has incentivized automakers and consumers to produce batteries domestically. 3. Automakers and battery manufacturers have collectively invested close to $100 billion in building domestic cell and module manufacturing, with a capacity of over 1,200 gigawatt-hours before 2030. Hint on Elon Musk: The article mentions Tesla's plans to invest billions in expanding its Gigafactory in Nevada and producing batteries for 1.5 million light-duty vehicles annually.

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