China’s support for electric car demand and investment in raw material, has led to its 75% of battery cell manufacturing capacity. This has landed it first place in the BloombergNEF for the last 3 years.
Now in its fourth year, the Global Lithium-Ion Battery Supply Chain Ranking considers 46 individual metrics to track the supply chain potential across five categories.
Today, the BloombergNEF, a strategic research business and financial provider, announced at the Mining Indaba held in Cape Town, that Canada has overtaken China for the top spot.
The ranking puts 30 countries to the test, on their potential to build a secure, reliable, and sustainable lithium-ion battery supply chain.
A statement from BloombergNEF, said factors that contributed to Canada’s success, include the country’s consistent manufacturing and production, as well as its integration with the United States automotive sector.
Kwasi Ampofo, BNEF’s Head of Metals and Mining, said: “Global investment in the clean energy supply chain, including equipment factories and battery metals production, hit a new record at $135 billion this year. That said, trade relations will be an interesting factor to monitor in 2024, as foreign policy efforts in the US and EU continue to make it difficult for international companies to operate in major markets like China.”
North America, is in the top 3, due to its strong policy commitment and implementation.
African countries, such as South Africa, Morocco, the Democratic Republic of Congo, included in the ranking, showed great improvement. This is attributed to their collaborative efforts with global partners to expand their mining sectors and start new manufacturing facilities. “To ensure local supply chains can emerge, countries in the region need to continue to maximize the value-add steps like metals refining and battery precursors in their materials value chain.”
South and Southeast Asia have seen the most improvement compared to last year, with India and Indonesia leading the way for supply chain growth.
Ellie Gomes-Callus, Metals and Mining Associate, BloombergNEF said, “The rapid development of targeted supply chain roadmaps has helped emerging economies race through the ranks in our fourth edition. But it is vital for these nations to maintain momentum in order to realize their full potential.”
Picture: National Mining Association