Benoit Tessier/File Photo/Reuters The Chinese battery giant CATL announced plans with carmaker Stellantis to build a major battery plant in Spain, a sign of how Europe’s ambitions to challenge China’s electric vehicle prowess are faltering. Northvolt, the much-heralded Swedish startup, declared bankruptcy last month, and 12 out of 16 planned European-backed battery factories are either under review, delayed, or canceled. That contrasts with the burgeoning growth of Asian manufacturers: 10 out of 13 projects in Europe by companies such as CATL or South Korea’s Samsung are on schedule. “Building a European industry was always going to be a long shot,” Bloomberg reported, because China has the raw materials, the expertise, and the infrastructure. |