Brutal times for the US battery industry

The US battery industry is facing tough times with companies failing and investors pulling back. 24M Technologies, once valued at over $1 billion, is shutting down, signaling more struggles in the industry. The company's innovative manufacturing process aimed to improve energy density in batteries for EVs. The tightening of funding and interest in novel ideas is making the battery market increasingly challenging. Despite some bright spots, like growth in China's battery industry, overall, the outlook for the US battery industry is not optimistic.