Junk Science Week: China is the big winner of North American EV policies [Financial Post (Toronto, Ontario, Canada)]
S&P Global Inc. (SPGI)
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. By Robert Bryce The mandates requiring the rapid adoption of electric vehicles in Canada and the U.S. will have a clear winner: China. That's not an opinion. A report issued last month by the International Energy Agency on the critical minerals needed to achieve the over-hyped “energy transition” spotlights China's near-monopoly on the metals, minerals and magnets needed to build EVs and other alt-energy technologies. Article content The report says, “China dominates the downstream and midstream global EV battery supply chain.” The IEA explains that “China holds 85 per cent of battery cell production capacity and 90 per cent of cathode and 98 per cent of anode material production capacity globally.” In addition, over half of global lithium and cobalt processing occurs in China, and as the IEA notes, it has “increased its market share since 2021.” This situation won't change anytime
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SPGI
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- SPGI's page on the SEC website