China Tightens Grip on EV Tech Exports Amid US Trade Tensions
In a move set to intensify the ongoing tech rivalry between Beijing and Washington, China is proposing fresh export restrictions on critical electric vehicle (EV) technologies. The planned curbs, which come ahead of the inauguration of US President-elect Donald Trump, aim to control the export of technologies used to extract essential minerals for the global EV industry. This strategic move is expected to impact the growth of the electric vehicle market, which relies heavily on these minerals. As the demand for EVs continues to rise, China's dominance in the supply chain of critical minerals such as lithium, cobalt, and nickel has become a significant point of contention in the escalating trade tensions between the two nations. The export curbs are seen as a way for China to exert its influence over the global EV industry, which is projected to drive significant economic growth in the coming years. With the US seeking to reduce its dependence on Chinese tech, this move is likely to further fuel the rivalry between the two tech giants. Key players in the EV industry are closely monitoring the situation, as the outcome is expected to have far-reaching implications for the future of electric vehicle production and the global supply chain.
