A display shows different stages of the production of lithium-ion battery cells, in the showroom at the Z Site production center of Chinese EV battery maker CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. (Photo by GREG BAKER / AFP) (Photo by GREG BAKER/AFP via Getty Images)

A video image shows the AB Battery system, which makes use of both sodium-ion and lithium-ion batteries in one battery system, in the showroom at the Z Site production center of Chinese EV battery maker CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. (Photo by GREG BAKER / AFP) (Photo by GREG BAKER/AFP via Getty Images)

Graphite powder (L) and NCM powder made from nickel, copper and magnesium, which are used to make the anodes and cathodes of lithium-ion batteries, are displayed in the showroom at the Z Site production center of Chinese EV battery maker CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. (Photo by GREG BAKER / AFP) (Photo by GREG BAKER/AFP via Getty Images)

A display shows foil used in the production of lithium-ion battery cells, in the showroom at the Z Site production center of Chinese EV battery maker CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. (Photo by GREG BAKER / AFP) (Photo by GREG BAKER/AFP via Getty Images)

A visitor looks at a Shenxing Plus battery pack for electric vehicles in the showroom at the headquarters of Chinese EV battery maker CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. (Photo by GREG BAKER / AFP) (Photo by GREG BAKER/AFP via Getty Images)

NCM powder made from nickel, copper and magnesium (R) and Graphite powder (L) which are used to make the anodes and cathodes of lithium-ion batteries, are displayed in the showroom at the Z Site production center of Chinese EV battery maker CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. (Photo by GREG BAKER / AFP) (Photo by GREG BAKER/AFP via Getty Images)

A display shows copper foil used in the production of lithium-ion battery cells, in the showroom at the Z Site production center of Chinese EV battery maker CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. (Photo by GREG BAKER / AFP) (Photo by GREG BAKER/AFP via Getty Images)

Visitors look at a video about battery powered ships in the showroom at the headquarters of Chinese EV battery maker CATL (Contemporary Amperex Technology Co., Limited) in Ningde, in southeast China's Fujian province on November 15, 2024. (Photo by GREG BAKER / AFP) (Photo by GREG BAKER/AFP via Getty Images)