HONG KONG -- A leading Chinese producer of electric vehicle batteries is preparing to shut its European operations next January, Nikkei Asia has learned, in the latest example of a Chinese company scaling back activities overseas amid an escalating trade spat and falling EV sales in Europe.
SVOLT Energy Technology, an affiliate of Chinese automaker Great Wall Motor, will end the operations of SVOLT Energy Technology (Europe) and German subsidiaries by January 2025, and lay off an undisclosed number of staff, a source familiar with the matter told Nikkei Asia.
