• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 days Does Toyota Know Something That We Don’t?
  • 4 days America should go after China but it should be done in a wise way.
  • 10 days World could get rid of Putin and Russia but nobody is bold enough
  • 11 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 12 days China is using Chinese Names of Cities on their Border with Russia.
  • 12 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 2 days Even Shell Agrees with Climate Change!
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 12 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
Petrobras Plans Dividend Squeeze To Fund Transition to Renewables

Petrobras Plans Dividend Squeeze To Fund Transition to Renewables

Brazil’s state-owned energy heavyweight Petrobras…

U.S. Looks To Create National EVs Supply Chain Strategy

The United States is looking to create a strategy for developing critical minerals such as lithium in a bid to bolster domestic supply for electric vehicles (EVs) and lessen dependence on lithium imports, especially from China.

Early next month, U.S. government officials are expected to meet with senior managers from carmakers and lithium mining companies to possibly launch a U.S. national strategy for boosting American processing facilities of lithium, Reuters reports, citing sources familiar with the plans. 

According to two of the sources, U.S. Senators, as well as officials from the Department of State, Department of the Interior, Department of Energy, and the U.S. Geological Survey plan to attend the meeting scheduled to take place in early May.

Lithium is the key mineral for the EV makers from Tesla to all the legacy automakers who are venturing en masse into the EV market.

The U.S. holds around 5 percent of the global market of lithium-ion battery production, which is dominated by China with a share of almost two-thirds. China is also home to most of the lithium processing factories in the world, according to data from Benchmark Minerals Intelligence, cited by Reuters.

In January 2019, there were nearly 5 million passenger EVs on the road globally, Angus McCrone, Chief Editor at BloombergNEF (BNEF), wrote in an article earlier this year. China will continue to be the leader in terms of volumes sold this year, with some 1.5 million of EV sales, accounting for around 57 percent of the global market, McCrone said.

Even the steep cuts in Chinese EV subsidies announced at the end of March are unlikely to deter China’s fast volume growth, Fitch Ratings said in a note on Monday.

“We expect demand in the world’s largest EV market to be supported by increasingly attractive product offerings, as well as wider commercial use of passenger EVs, in addition to a potential "pull-forward" effect in 2Q19,” Fitch Ratings said.

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News