Battery manufacturer CATL reportedly postpones plans for a US facility.
The controversial trip by House Speaker Nancy Pelosi to Taiwan has caused China's CATL, the largest battery manufacturer in the world, to postpone a decision on constructing a multibillion-dollar factory in the US, according to a Tuesday Bloomberg story.
Bloomberg cited persons with knowledge of the situation as stating Contemporary Amperex Technology Co (CATL) will now wait until September or October before announcing its pick of a US location.
In May, it was revealed that CATL was approving sites for the production of electric vehicle batteries for Ford, Tesla, and BMW. South Carolina and Kentucky, where those automakers have assembly factories, were mentioned as potential locations. According to reports, locations in Mexico are also being considered.
Nancy Pelosi, the speaker of the US House of Representatives, visited Taiwan on Tuesday. China, which regards the island as its sovereign territory, fiercely denounced Pelosi's visit. On the same day, Beijing labeled both Taiwan and the US as "destroyers of peace."