US Government funding is the key to watch now. Given that the US is determining to fend off China for its EV advancement, it needs all the help that is available. BYD overtakes Tesla in sales in Q2 2022 as we speak. This does not bode well with the US.

Given EFL has been in the development of EV batteries for years, it is a mature EV battery company. Getting EFL's technology might help the US to fight this geopolitical battle. So, I am not surprised that EFL would receive more funding from various levels of the US government, albeit it is only a speculation.