China's graphite export controls may push U.S. EV prices up, further straining trade relations amid a global shift towards clean automotive tech.
China's new export controls on graphite—a pivotal material for electric vehicle batteries—pose a potential price surge for EVs in the U.S.Announced Friday, the controls mandate export permits for certain graphite products, underscoring China's intent to guard its manufacturing supremacy amid global critiques on its industrial practices.China refines over 90% of the world's graphite, which is integral to the negative electrodes in EV batteries like those used by Tesla. The U.S.
China, led by Xi Jinping, said the new export controls on graphite are of national security interest as well.According to China's commerce ministry, the move was 'conducive to ensuring the security and stability of the global supply chain and industrial chain.'It is all part of a broader geopolitical struggle over critical tech and resources, which has left analysts and industry insiders to process the potential ramifications of China's latest move.
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