Canada has overtaken China for the top spot at the leading Lithium-ion battery supply chain marking the first time ever China has not claimed the number one position.
The result was reported by BloombergNEF (BNEF) in the fourth edition of their Global Lithium-ion Baterry Supply Chain Ranking assessment.
The North American country took the edge over competitors due to their “raw material resources, strong integration with the US automotive sector and clear policy commitments”.
These achievements alongside strong environmental, social and governance (ESG) credentials have aided the country in becoming a leader in forming the “battery supply chains of the future”.
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.”
China has been encouraged by the report to take a more proactive approach to tackle sustainability issues to give long-term benefit to its supply chain.
Mexico also notably rose nine positions in the ranking to 19th and has reportedly made progress in all supply chain categories assessed by the BNEF.
African countries included in the ranking – such as South Africa, Morocco and the Democratic Republic of the Congo – have also improved their upstream presence.
