China's finance ministry has made a significant move in the global energy storage market, announcing the end of a long-standing tax exemption on domestic lithium-ion batteries. The exemption, which has been in place since 2019, has been a major factor in China's dominance of the global lithium-ion battery market. However, the removal of this tax break is expected to give a boost to sodium-ion batteries, a rapidly developing alternative technology that could potentially challenge lithium-ion's reign as the go-to energy storage solution. As the world continues to transition towards renewable energy and electric vehicles, the shift in China's tax policy could have far-reaching implications for the global battery market.
China’s finance ministry announces end to domestic lithium ion tax exemption, with likely boost for sodium ion Benchmark Mineral Intelligence
