China Looks to Slam the Brakes on Its Battery Boom to Fight Overcapacity

The Chinese authorities have issued draft guidance on new rules for the domestic battery industry, which appear to be targeting to address the current overcapacity in the sector. China’s Ministry of Industry and Information Technology unveiled on Wednesday a new set of draft rules that lay out minimum energy density standards and stricter battery specifications, as well as advise that companies should refrain from the construction of new plants that “simply expand production capacity,” Bloomberg reports. The proposal and…