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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":721,"relatedVideos":722},112472338635970,"acb29fed-3fe2-4a1d-ba67-3f6cd4d364a6","Europe set for battery supply shortage this decade as US, Asia expand production","europe-set-for-battery-supply-shortage-this-decade-as-us-asia-expand-production","article/europe-set-for-battery-supply-shortage-this-decade-as-us-asia-expand-production",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":700,"featured":51,"reporter":701,"_editable":705,"component":706,"seo_title":543,"categories":707,"visibility":714,"author_company":49,"featured_image":715,"seo_description":700,"author_full_name":49,"author_job_title":49,"formattedDate":719,"formattedArticleDate":720},"d8af11fb-eb56-4e2a-bf54-9451a2d33b3d","2022-10-20 00:00",[550,553,556],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"europe","Europe",{"slug":557,"name":558},"usa","USA",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,579,584,589,594,599,608,615,620,625,640,645,650,655,660,665,670,675,680,685,690,695],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"Europe’s battery industry will struggle to keep pace with rising demand for electric vehicles this decade, as the region falls behind the US and Asia in terms of becoming self-sufficient in lithium ion battery cells.","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582],{"text":583,"type":578},"The region’s supply deficit is set to grow from a 66 GWh in 2022, to almost 270 GWh deficit in 2030, according to Benchmark’s Lithium Ion Database.",{"type":573,"attrs":585,"content":586},{"textAlign":49},[587],{"text":588,"type":578},"The data highlights how Europe needs to accelerate the build-out of a battery supply chain, as the US and China rapidly expand capacity to meet their own demand.",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":578},"The EU’s climate change proposals include a ban on the sale of new fossil-fuel vehicles from 2035, but the bloc has yet to launch a large-scale stimulus policy targeted at clean energy supply chains similar to President Biden’s Inflation Reduction Act.",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":578},"“There are investments coming in Europe at cell capacity level, but the issue is that there’s no point building these gigafactories if you’ve not got the supply chain to feed them,” said Aran Waid, analyst at Benchmark. “The biggest issue for them is building that midstream capacity and sourcing that raw material.”",{"type":573,"attrs":600,"content":601},{"textAlign":49},[602],{"type":603,"attrs":604},"image",{"id":49,"alt":605,"src":606,"title":49,"source":49,"copyright":49,"meta_data":607},"","https://a.storyblok.com/f/287943243085208/c15f48956d/bm-regional-market-balances-aran.png",{},{"type":609,"attrs":610,"content":612},"heading",{"level":611,"textAlign":49},4,[613],{"text":614,"type":578},"European battery factories ",{"type":573,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":578},"European battery demand for electric vehicles is set to grow by 600% by the end of the decade to over 735 GWh, according to Benchmark. That compares to 436 GWh of battery EV demand for the US.",{"type":573,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":578},"“Europe is leading in battery development outside of China but it still retains a deficit because we expect the demand to be much higher as it has such high EV penetration rates as well,” Waid said.",{"type":573,"attrs":626,"content":627},{"textAlign":49},[628,630,638],{"text":629,"type":578},"European OEMs including Volvo, Nissan and Renault have invested in joint ventures with battery manufacturers to construct European gigafactories while ",{"text":631,"type":578,"marks":632},"VW is taking the path of Tesla",[633],{"type":634,"attrs":635},"link",{"href":636,"uuid":49,"anchor":49,"target":49,"linktype":637},"https://source.benchmarkminerals.com/article/vw-spins-out-battery-business-as-it-eyes-north-american-gigafactory/","url",{"text":639,"type":578},", investing in its own battery cell production facilities.",{"type":573,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":578},"VW currently has three cell plants in planning across Europe, with an announced pipeline cell capacity of 120 GWh.",{"type":573,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":578},"Leading battery producers such as CATL, LG Chem, SK Innovation and Samsung SDI are also investing in European based operations while Swedish startup Northvolt has two factories planned in Sweden and one in Germany.",{"type":573,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":578},"Yet European battery materials production is also expected to lag forecast demand, according to Benchmark. Despite 800 GWh of European demand for anodes forecasted in 2030, Benchmark is tracking just over 300 GWh of pipeline anode capacity in planning and construction in Europe, highlighting the significant investment needed to localise a supply chain.",{"type":609,"attrs":656,"content":657},{"level":611,"textAlign":49},[658],{"text":659,"type":578},"US growth ",{"type":573,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":578},"The passing of the IRA in the US this summer has significantly boosted battery investment in the country this year compared to Europe, however. The legislation provides tax credits to electric vehicle producers if they produce battery components in North America and source critical minerals from free trade agreement countries. It also provides production tax credits for battery cells and components.",{"type":573,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":578},"Already, the move has seen $13 billion announced for domestic EV manufacturing and  $24 billion in batteries, according to the White House. This week Chinese battery company Envision AESC said it would invest in a new 30GWh battery manufacturing plant in South Carolina to supply BMW.",{"type":573,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":578},"“In that sense, the IRA is a good piece of legislation as it puts that focus and investment on the rest of the supply chain further upstream with the raw material targets and the battery component. If Europe wants to be self-reliant, I do feel there needs to be a piece of legislation similar to the IRA,” Waid said.",{"type":573,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":578},"As a result North America is forecast to reach cell surplus from 2027 to 2030, as 16 gigafactories are expected to come online by 2025, however further expansions will be needed to serve demand deficits post-2030.",{"type":609,"attrs":681,"content":682},{"level":611,"textAlign":49},[683],{"text":684,"type":578},"China’s dominance ",{"type":573,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":578},"Of all regions China is forecast to  maintain the largest battery production surplus until 2033, according to Benchmark. China has consistently been ramping up its capabilities ranging from refining to manufacturing and all aspects of the EV supply chain.",{"type":573,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":578},"China’s battery production is set to grow from 562 GWh in 2022 to 2.2TWh by 2030. China is expected to have enough surplus cells to serve supply deficits in other regions until 2033, according to Benchmark.",{"type":573,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":578},"Asia (excluding China) is also expected to meet its own lithium ion battery demand until 2026, according to Benchmark.","Europe’s battery industry will struggle to keep pace with rising demand for electric vehicles this decade, as the region falls behind the US and Asia in terms of becoming self-sufficient in lithium ion battery cells. The region’s supply deficit is set to grow from a 66 GWh in 2022, to almost 270 GWh deficit in […]",[702],{"slug":561,"name":562,"content":703},{"job_title":564,"image":704,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"d8af11fb-eb56-4e2a-bf54-9451a2d33b3d\", \"id\": \"\"}-->","article",[708,711],{"slug":709,"name":710},"batteries","Batteries",{"slug":712,"name":713},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":605,"name":605,"focus":605,"title":605,"source":605,"filename":716,"copyright":605,"fieldtype":717,"meta_data":718,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/cd694743ac/bm-saltzigger-e1666269459877.jpg","asset",{"alt":605,"title":605,"source":605,"copyright":605},"Oct 20, 2022","20th October 2022",[],[],1781530304120]