China Unveils Action Plan to Boost Energy Storage Manufacturing, Aiming for Global Competitiveness by 2027

China has announced a new action plan to promote high-quality development in the energy storage manufacturing industry. The plan, jointly issued by eight government departments, aims to enhance the global competitiveness of its domestic industry by 2027. Key objectives include: * Developing next-generation battery technologies. * Creating leading energy storage enterprises. * Strengthening support for lithium, cobalt, and nickel exploration. * Facilitating foreign investment and cooperation with overseas minerals companies. The initiative seeks to improve efficiency in the renewables sector, supporting China's transition from fossil fuels and its "double carbon goals" of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060.