SHANGHAI (Reuters) -Shares of Chinese battery makers plunged on Friday after the country announced that it would control exports of lithium battery parts, a move that tightens its grip on the technology critical for energy storage and electric vehicles.

It had earlier expanded export controls over rare earths as trade tensions with the United States simmer ahead of a possible meeting between Presidents Donald Trump and Xi Jinping later this month.

Beijing’s export control on some high-end lithium-ion batteries, cathodes and graphite anode material as well as technological know-how will require exporters to seek permits and set to take effect from November 8, per a Ministry of Commerce statement on Thursday. On Friday, battery maker Contemporary Amperex Technology Co Ltd. (CATL) tumbled 6

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