May 07 2024

North America and Europe are racing to close the EV battery supply chain gaps to rival China's dominance. With China leading in production, both continents face pressure to bolster their capabilities. This gap undermines their ability to meet rising EV demand and poses strategic risks. Policymakers emphasize the need for concerted efforts to fortify the EV battery supply chain. This entails investing in R&D, expanding domestic production, and fostering collaborations. Securing a sustainable supply of critical materials is a key priority for North America and Europe. Failure to close the gaps could lead to economic competitiveness loss and geopolitical risks. Therefore, innovation, investment, and collaboration are paramount. The goal is to challenge China's dominance and ensure a sustainable automotive future. North America and Europe must act swiftly to secure their positions in the global EV market.