According to Bloomberg, someone at the government came up with the idea to cut subsidies for electric buses (up to 40%) that doesn't use LFP chmistry. As electric buses of all-kinds are big part of Chinese market, Samsung SDI and LG Chem could be hit hard - think "double-digit sales drops".
"Buses are about half the EV market in China, and the government has suspended its once-generous consumer subsidies for EV buses using batteries like the ones Samsung and LG make - a combination of nickel, cobalt, and manganese (NCM). Subsidies will continue for less-advanced lithium-iron-phosphate (LFP) batteries, according to the state news agency, Xinhua. Samsung's battery unit, which last year opened an NCM battery factory in China and plans to invest $600 million there by 2020, said in a statement that the company is "considering various ways to respond." LG's battery unit declined to comment."
Which means that long-time LFP manufacturer, and, user BYD must be happy these days.
