×
Saturday, November 27, 2021

Canada Poised to Become Battery Leader in North America - Bloomberg

Last updated Tuesday, October 19, 2021 06:50 ET , Source: NewsService

Welcome to the Hyperdrive daily briefing, decoding the revolution reshaping the auto world, from EVs to self-driving cars and beyond.

News Briefs

  • Lithium miner backed by Peter Thiel said to prepare Nasdaq listing.
  • Volvo’s $2.9 Billion IPO marks key test in EV transition.
  • New airline enters Hong Kong market, aims to challenge Cathay.

A North American Battery Supply Chain Emerges

Hi all, James Frith here again this week. I want to look at how Canada is re-positioning itself to take advantage of the growing electric vehicle supply chain, after years of overlooking the battery industry.

Despite having all of the critical ingredients for lithium-ion batteries — nickel, cobalt, lithium, graphite — Canada doesn’t have any EV cell or component manufacturing; and it has only about 10% of the battery demand of the U.S. Combined with a lack of government support for the battery supply chain, it had seemed that Canada was destined to lose the value-add of its raw materials as they are exported to countries that had invested in battery production.

We’ve seen this type of relationship in the battery supply chain before, in particular between Australia and China. In 2020, Australia accounted for almost 50% of global lithium production, but the majority of this material was exported to China for refining. China accounts for 75% of battery materials refining capacity today, but sources almost all of its raw materials (nickel, cobalt, lithium, graphite, manganese) from overseas.

...



Read Full Story: https://www.bloomberg.com/news/newsletters/2021-10-19/canada-poised-to-become-battery-leader-in-north-america

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.