Canada has overtaken China in the annual global lithium-ion battery ranking produced by BloombergNEF. This survey rates 30 countries and their potential to build a secure, reliable and sustainable lithium-ion battery supply chain.
China still has the strongest established supply chain, it said. But Canada’s consistent manufacturing and production advances and strong ESG credentials have helped it become a leader in forming the battery supply chains of the future, the report stated.
Strong integration with the US automotive sector means Canada also benefits from the US Inflation Reduction Act, it added. The country’s position in BNEF’s ranking is propelled by policy commitment at both the provincial and federal level.
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.”
Africa is an important supplier of battery raw materials. The included countries – South Africa, Morocco and Congo improved their ranking. In south-east Asia India and Indonesia showed remarkable development.
In Europe, Germany, Finland, Norway and Sweden all ranked among top seven thanks to strong ESG performance and advanced recycling systems.
Ellie Gomes-Callus, metals and mining associate at BNEF 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 realise their full potential.”
