From mineral extraction to battery supply to EV manufacturing, China has established itself as the preeminent hub for EV-related business, the group says. By last May, 107 of the 142 lithium ion battery megafactories that exist or are under construction were located in China, according to the report, titled “The Commanding Heights of Global Transportation.”
Further, the Chinese have focused on securing supplies of key materials used to produce battery cells, such as cobalt, lithium, nickel and graphite. China has 73 percent of the global share of production of lithium ion battery cells, per the report. The U.S., by comparison, controls 10 percent.
This isn’t the first time alarm bells have been raised about the competitiveness of the U.S. industry. In February 2019, Benchmark Mineral Intelligence Managing Director Simon Moores testified before a U.S. Senate subcommittee, saying, “We are in the midst of a global battery arms race, in which