Australian regulator sues Magnis Energy over US battery plant disclosure failures 29Apr24 https://www.mining.com/web/aussie-regulator-sues-magnis-energy-over-disclosure-failures/
Quote [ the battery co made multiple announcements between April 2021 and March 2023, stating the project was fully funded to generate at least 1 GWh of lithium-ion battery cells per year and that the project had begun commercial production, among others.
However, the regulator alleged that by at least January 2023, the battery co and ...were aware about the inaccuracies in their claims and predictions and that “the plant at that time was struggling to produce 300 battery cells per day”.]
We are sold by the Fed Gov that batteries are a great way to help us get to Net Zero yet industry has issues making batteries - does not gel
