--- title: Brutal times for the US battery industry | daily.dev description: The US battery industry is facing a harsh downturn in 2026, with investors pulling back and companies shutting down. 24M Technologies, once valued at over $1... canonical: https://daily.dev/posts/brutal-times-for-the-us-battery-industry-vcpyxogwq twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Brutal times for the US battery industry | daily.dev og:description: The US battery industry is facing a harsh downturn in 2026, with investors pulling back and companies shutting down. 24M Technologies, once valued at over $1... og:url: https://daily.dev/posts/brutal-times-for-the-us-battery-industry-vcpyxogwq og:image: https://api.daily.dev/og/posts/VcpyxogWQ.png og:image:alt: Brutal times for the US battery industry og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Brutal times for the US battery industry **[MIT Technology Review](https://daily.dev/sources/technologyreview)** · 4 min read · 0 upvotes · 0 comments ## Summary The US battery industry is facing a harsh downturn in 2026, with investors pulling back and companies shutting down. 24M Technologies, once valued at over $1 billion, is reportedly closing and auctioning off assets. The company had developed a simpler, cheaper lithium-ion manufacturing process with thicker electrodes for higher energy density, but even this relatively safe bet couldn't survive. Other casualties include Natron Energy and Ample. Contributing factors include gutted Inflation Reduction Act incentives, a cooling EV market, and reduced appetite for innovation. China's battery industry, by contrast, continues to thrive, and stationary energy storage shows some growth, but the overall US outlook is grim. ## Full article daily.dev links to this article rather than hosting it. 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