RE:EU announces 5 Billion Euro investment in EV batteriesThe unwillingness to put your entire supply chain in the hands of Asian battery makers is very wise. In Canada today, we have a trade war that was triggered because a 'rule of law' extradition treaty with the US was being respected and adhered to. That resulted in arbitrary arrests, imprisonments, death sentences for some and then the economic pain started that is expanding to include cancellations of shipments of Canola and Pork so far. All because (let's be honest) they are mad as hornets that Huawei executive was arrested and detained in Canada as the hearing plays out with the US. Imagine for one minute if they were the main source of batteries and everyone else just sat on their heels during plant development and that painfully long process.
They would literally be able to put factories to a stand-still if they decided that they didn't like what they were hearing or feeling or seeing in a market and thought it was not suiting their interests.
At 1/20 of their GDP... we are a trivial plaything in Canada. They can slap us very hard and not really hurt their hand at all.
Dangerous game we play to trust them to the point of reliance. The rules don't apply to them.
HnG