China to curb exports of key EV battery material from Dec. 1

• China announced on Friday that it will require export permits for graphite, a key material for electric vehicle (EV) batteries, starting Dec. 1. The country is the world’s top graphite producer, and the move could spur procurement difficulties for global EV makers.
• The European Union has launched an investigation into whether Chinese-made EVs have unfairly impeded competition by being sold at low prices through subsidies. “We take the export restrictions as a deterrent to the EU investigation,” said a source at European business.
• Western auto giants are already rushing to secure new suppliers before China officially implements its export restrictions.

External Link : https://asia.nikkei.com/Economy/Trade/China-to-curb-exports-of-key-EV-battery-material-from-Dec.-1