China’s Battery Boom Is Running Into a Very Familiar Problem

The Chinese industry ministry has sounded the overcapacity alarm for yet another industry: batteries. Battery makers have grown unrestrained, and this has resulted in too much capacity, which is a threat to the industry, Reuters reported, citing a meeting at the industry ministry. China is the world’s biggest market for electric vehicles and a top player in battery storage as well. But just like EVs and solar panels, these transition-linked industries have enjoyed years of generous subsidies that have allowed them to grow without any consideration…