Sunwoda, LGES, Jinpu Titanium and Chuanheng Group have collectively cancelled well over $10 billion in lithium battery manufacturing investments in recent weeks – we describe some of these in our orders section this week, with the two biggest being LGES backing out of an $8.5 billion Indonesian deal, and Sunwoda cancelling a 30 GWh power battery factory in Zhuhai. Solar and wind manufacturing have hit something of a plateau, with solar manufacturing in particular sitting at 2x overcapacity for more than a year now, but we had been optimistic that batteries, across both energy storage and to a lesser extent the EV market, would continue with strong growth for a little longer. President Trump’s tariffs appear to have put paid…