China dominates more than 70% of the global market for lithium iron phosphate (LFP) batteries, which are essential to electric vehicles. This dominance has sparked increasing resistance in Washington, including measures from the Biden administration’s Inflation Reduction Act and tariff threats from former President Donald Trump. At the same time, China has discreetly implemented export controls to restrict the outflow of their technology. As these two major economies grapple over influence in the growing electric vehicle sector, the landscape for Chinese battery firms becomes increasingly complex.
