China sets up $828m fund to push solid-state EV battery development

China sets up $828m fund to push solid-state EV battery development

A staff member hooks up a charging cable to an electric vehicle (EV) at a charging station in Liuzhou, Guangxi Zhuang Autonomous Region, China July 31, 2017. REUTERS/Stringer/File Photo

China has established a dedicated fund of about 6 billion yuan ($828 million) to stimulate the development of solid-state batteries for electric vehicles (EVs), an industry insider told Caixin.