THE government has scrapped its list of recommended battery suppliers, the industry ministry said yesterday, a decision foreign companies said could open up the world’s biggest market for electric vehicle batteries.

China, the world’s largest new energy vehicle (NEV) market, has seen increased investment from South Korean battery makers LG Chem Ltd. and Samsung SDI Co. amid expectations for a gradual change in policy.

The list, which did not include foreign firms when it was first published in 2015 to spur a domestic battery sector, has been abolished as part of government management reforms, the ministry said in a latest statement on its website. It gave no further details.

China has raised its standards for new energy vehicles that qualify for subsidies and reduced the amount it is willing to provide to relevant companies, as it looks to wean the sector off government support.

Growth in NEV sales has slowed in recent months after growing rapidly in past years.

(SD-Agencies)