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It was reported that Israeli battery technology company Addionics announced its plan on February 26 to invest $400 million to build a factory in the United States to produce copper anodes for electric vehicle batteries from 2027. And the ultimate goal of this plan is to provide copper cathodes for approximately one million electric vehicles annually. The new factory will be built in three phases.

Addionics’ CEO Moshiel Biton told reporters that the company is conducting due diligence to secure funding of up to $50 million for the first phase of construction under the Inflation Reduction Act (IRA), which will cost a total of $120 million for this phase.

Source: WeChat Official Account—电池中国

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