Good-to-Know
The Race Is On...
A worldwide race is underway for access and control over key technologies, especially those associated with energy. Batteries and EVs are near the top of this list... and China has become the dominant force for the production not only of batteries and EVs, but also for the materials that go inside them.
This rapidly increasing dependence upon China has profound implications for the economic and national security of other nations:
- Japan is All Set to End China’s Dominance in ‘Rare Earth Metals’
- China's Iron Grip on the Rare Earth Magnet
- China Bans Export of Chip-Making Metals Amid Tech-War with U.S.
The U.S. and its allies have therefore initiated massive efforts to secure their own supply chains for battery materials - which are often highly reliant on access to critical minerals, as well as battery/EV production capabilities. Other technologies, such as photovoltaic solar panels, also have similar challenges due to China's overwhelming dominance.
A tremendous increase in a U.S. electrification workforce that can meet this need is necessary (as well as for related sectors such as power grid upgrading).
Thus, the race is on...
