HONG KONG — China's leading electric car battery maker is set to shut down its European operations next January, Nikkei Asia has learned, in the latest example of a Chinese company scaling back overseas operations amid an escalating trade dispute and declining EV sales in Europe. .
SVOLT Energy Technology, a subsidiary of Chinese automaker Great Wall Motor, will shut down SVOLT Energy Technology (Europe) and its German subsidiaries by January 2025 and cut an undisclosed number of jobs, a source familiar with the matter told Nikkei Asia.