German automaker Porsche AG has canceled production plans at its high-performance battery unit, Cellforce, citing slow electric vehicle demand and changing market conditions in China and the United States.

CATL on Monday launched the second generation of its "Shenxing" fast-charging battery, which it said would power more than 67 new electric vehicle models this year, News.Az reports, citing Reuters.

Japan plans to increase subsidies for electric vehicle battery production, committing up to $2.4 billion to support initiatives by Toyota Motor and other leading companies. This move aims to enhance the country's battery supply chain.