FRANKFURT: Major carmakers like Volkswagen, Daimler and Stellantis have been racing to secure battery cell supplies in Europe, but may face a bigger challenge as they seek to go electric - finding enough battery raw materials.
Until recently, Europe was seen as having lost the battery race to the dominant Asian manufacturers like CATL in China, South Korea's LG Chem, and Japan's Panasonic, says Ilka von Dalwigk from EIT InnoEnergy, which has set up a company network funded by the European Union in the"European Battery Alliance".
Recently, battery cell factory announcements have come thick and fast, and EIT InnoEnergy now lists almost 50 planned projects in the EU. In the case of cobalt, where the largest deposits are located in Democratic Republic of the Congo and are sometimes extracted under miserable working conditions, an increase in price is also expected.
A global race is under way. The automotive industry is currently experiencing painful production disruptions due to the shortage of semiconductors. But imports can become more expensive due to tariff increases in trade disputes and interrupted by logistics problems, as a tanker accident that blocked the Suez Canal recently showed.
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