The countries that can make batteries for electric cars will reap decades of economic and geopolitical advantages.
The only winner so far is China, and it may take the rest of the world decades to catch up. nyti.ms
The only winner so far is China, and it may take the rest of the world decades to catch up. nyti.ms
Electric cars use about six times more rare minerals than conventional cars because of the battery, and China gets to decide who gets the minerals first and at what price.
Chinese companies have stakes in mining companies on five continents. nyti.ms
Chinese companies have stakes in mining companies on five continents. nyti.ms
Regardless of who mines the minerals, nearly everything is shipped to China to be refined into battery-grade materials. Refining also often causes pollution, and Chinese refineries benefit from less stringent environmental regulations. nyti.ms
China became the largest battery producer partly by figuring out how to make battery components efficiently and at lower cost. The most important component is the cathode, which is the battery’s positive terminal. nyti.ms
China is also the leader in assembly. It can build battery factories at nearly half the cost of countries in North America or Europe. China’s labor costs are lower, and there are more equipment manufacturers in China. nyti.ms
China has the most electric cars on the road and nearly all of them use Chinese-made batteries. Experts say it is next to impossible for any other country to become self-reliant in the battery supply chain. See more. nyti.ms
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