Prediction predicated on investment that keeps pace with Joe Biden’s $369bn green subsidy spree
A lithium-ion car batteries factory in Nanjing, China. There are no lithium refineries in Europe, with about 90% of the world’s processing taking place in east Asia.A lithium-ion car batteries factory in Nanjing, China. There are no lithium refineries in Europe, with about 90% of the world’s processing taking place in east Asia.Europe could end its reliance on China for electric car batteries by 2030 but only if it keeps pace with Joe Biden’s $369bn green subsidy spree, experts predict.
MPs have raised concerns that Britain’s electric vehicle supply chain is overly reliant on China, a key vulnerability amid political tensions between Beijing and the west. However, the study’s authors warned that companies could still move projects planned for Europe to the US, tempted by the tax benefits and other subsidies provided by the IRA for localising battery supply chains in the US.
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