It’s well known that over the past decade, China has pretty much dominated the lithium-ion battery supply chain. It controls the supply of lithium as a raw material and virtually every step in the supply chain that goes into making that lithium suitable for making EV batteries. Why China has such nearly total command of the battery supply chain involves a detailed lesson in history and global politics.
A European Response to US IRA: How Europe can use its soft and financial powers to build a successful electric vehicle value chainThe European Green Deal is one of the world’s most ambitious climate policies to usher the European Union into the net zero economy by 2050. To happen, it will require a massive ramp up of technologies from wind turbines to electric car batteries, but the question is how much of the value will be captured by industry in Europe.
But the US Inflation Reduction Act , launched in August 2022, has changed the rules of the industrial game and might make companies re-prioritize the current announcements in Europe towards the US. For EVs and batteries, the risk is that the projects — and therefore Europe’s ambition — gets delayed. For critical metals and their processing, where Europe is only starting to catch up, the risk is that investments would simply go elsewhere.
So far Europe has one of the most ambitious climate regulations in the world. The next step now is to beef it up with a robust industrial muscle to ensure we capture parts of the growing value chain.”with cash raised through joint debt issuance to aid investment into electric vehicles, batteries, and renewables. “Ultimately, the ESF should become the backbone of EU’s green industrial policy. There are clear benefits of joint borrowing from the standpoint of European governments.
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