It May Be Too Late to Fend Off China's Battery Giants

China is the world leader in processing lithium and it is making major, risky investments to secure raw lithium in Latin America and Africa. Now, the U.S. is trying to develop its own supply to reduce its reliance on China. Photo illustration: Jamie Leventhal Having charged up in their massive home market, Chinese electric-vehicle-battery firms are becoming major export players, too. The West's efforts to protect its own markets might prove too little, too late. Chinese firms are also eyeing big new factory expansions in Europe itself, and in U.S. free trade partners, as a way to sidestep current and…