China’s command of the supply chain for electric vehicles (EVs) presents a challenge for Europe’s ambitions in the sector, The Financial Times reported, noting that Chinese companies are set to make 76% of lithium-ion battery cells this year compared with just 7% by manufacturers in the EU.
Europe needs to set up a “whole ecosystem of mining, refining and chemical engineering” needed to supply EV batteries if it is to phase out petrol and diesel-powered cars by 2035, according to one expert, but China’s current lead in battery making suggests the EU may have to rely on Chinese or Asian raw materials for EVs for some time.
Read the full report: The Financial Times.
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