Why it matters: Graphite is the largest component in lithium-ion batteries by weight. Accounting for losses during the manufacturing process, it takes over 30 times more graphite than lithium to make the batteries, and most of that comes from China. A New Zealand-based startup uses leftover wood chips to make graphite, and its technology could provide a new supply route for the increasingly in-demand material. Earlier this year, Ford warned the United States is not ready to compete with China on electric vehicles and called for the industry to learn and adapt quickly. Separately, regulators have been discussing steps to…