Ann: NY Lithium-ion Battery Plant Update Binding Sales Increase, page-93

its an option agreed. each country like india, saudi and others where c4v is looking at jv, they (c4v) haven't built the supply chain. the US im3 has one. to build in those countries, c4v have to jv with another manufacture (not im3 - im3 is not a company, but a consortium) to use their supply chain. Sure mns may be part of that for graphite supply. if you were to export the batteries, sure, but manufacturing them there is another story. c4v can export their IP, but im3 takes years to establish a supply chain in each country.