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Electric cars in China

Panasonic and LG give a jolt to China's EV battery market

Beijing's loosening rules prompt fresh investment from foreign players

Japanese and South Korean battery makers are planning to boost output in China as it loosens restrictions on foreign players in the electric-vehicle sector.
Japanese and South Korean battery makers are planning to boost output in China as it loosens restrictions on foreign players in the electric-vehicle sector.   © Reuters

OSAKA -- Japan's Panasonic and South Korea's LG Chem are adding production capacity for electric-vehicle batteries in China, as Beijing's loosening restrictions prompt foreign players to ride the wave of new-energy vehicles.

Panasonic aims to boost its lithium-ion battery capacity by up to 80% with two production lines at its sole Chinese battery factory to be switched on as soon as next summer, spending hundreds of millions of dollars in the process. LG Chem aims to build new facilities in Nanjing by 2020.

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