China’s EV supply to be loosen as US backs graphite factory

In an attempt to loosen China’s grip over the global battery supply chain, Washington has agreed to fund a new US graphite factory to be built by Novonix, an Australian group and has offered a conditional loan of $755 mn, to built U.S. first large-scale synthetic graphite facility which will be capable of producing enough graphite to supply 3,25,000 EVs a year at full capacity in 2028.