The push to loosen China’s stranglehold over the global battery supply chain has intensified after Washington agreed to fund a new US graphite factory to be built by an Australian group.
The US energy department has offered Novonix a conditional loan of $755mn to underwrite construction of a facility in Chattanooga, Tennessee, which will be the first large-scale synthetic graphite facility in North America when complete.
Chris Burns, chief executive of Novonix and a former Tesla engineer, said on Tuesday that the deal underscored the need to develop alternative supply chains for electric vehicles, noting that China’s market share for graphite used in car batteries was more than 95 per cent.
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