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The U.K. has set a fast pace in the electric vehicle race with its 2030 ban on sales of new fossil fuel-powered cars, and has offered £1 billion ($1.4 billion) to jump start its battery industry and associated supply chain.

But the cash and the headline-grabbing deadline — which is sooner than many other nations by several years — still leaves it trailing the European Union’s drive to create a supply chain and far behind China, the electric vehicle battery leader.

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