![]() ![]() ![]() But China long ago took the strategic decision to dominate the processing of those minerals, and now controls about three-quarters of that market. Most are in fact found in places as far-flung as Chile, DR Congo and Australia. Not that China is particularly rich in those minerals. At present, the supply chain for those minerals is dominated by China. These need a selection of five key minerals to operate: graphite, cobalt, lithium, manganese, and nickel. The standard solution for EVs, today and for the foreseeable future, are lithium-ion batteries. That will lead to a worldwide demand for battery power of between 1 and 6 TWh per year. The electrification trend will accelerate: by 2030, EVs will make up anywhere between 25% and 75% of new registrations globally. In 2020, 3.2 million new EVs were registered globally, bringing the world total to 10.9 million. In terms of mobility, the energy transition means switching from cars with internal combustion engines (ICEs) to electric vehicles (EVs). But are we merely sleepwalking into the next problem? 6 TWh battery power Europe has now taken the decision to wean itself off Russian energy, so it is likely that the transition to sustainable energy sources will accelerate. The Ukraine crisis has taught Europe that its dependence on Russian oil and gas is a strategic weakness. Will we become as reliant on those who mine and process those minerals as we are on those who produce our oil and gas?Įnergy isn’t just economics: it’s politics, too. EVs help fight one global problem – climate change – but they create another: mineral dependency. ![]()
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