[{"data":1,"prerenderedAt":723},["ShallowReactive",2],{"ticker-data":3,"story-article/uk-pledges-over-2-billion-in-funding-for-evs-and-batteries":540},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM 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},112470350231399,"f96efcbb-c832-4a90-9aca-d2bc4d3ff88a","UK pledges over £2 billion in funding for EVs and batteries","uk-pledges-over-2-billion-in-funding-for-evs-and-batteries","article/uk-pledges-over-2-billion-in-funding-for-evs-and-batteries",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":699,"featured":50,"reporter":700,"_editable":704,"component":705,"seo_title":543,"categories":706,"visibility":713,"author_company":49,"featured_image":714,"seo_description":699,"author_full_name":49,"author_job_title":49,"formattedDate":719,"formattedArticleDate":720},"9c8601c7-50eb-4f4d-ac73-b26046611914","2023-12-01 00:00",[550],{"slug":551,"name":552},"uk","UK",[554],{"slug":555,"name":556,"content":557},"matthew-bird","Matthew Bird",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Senior Editor - Supply Chains & Data Visualisation",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":564,"content":565},"doc",[566,573,578,583,588,593,600,605,610,623,628,633,638,643,654,659,664,669,674,679,684,689,694],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"The UK has pledged over £2 billion ($2.5 billion) in research and development (R&D) funding for manufacturing and development of zero emission vehicles, their batteries and supply chains between 2025 and 2030.","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"The funding is the first of 15 measures introduced in the Battery Strategy, which also includes £12 million ($15.2) to establish a new Advanced Materials Battery Industrialisation Centre to bridge the gap between academia and commercialisation of anode and cathode active materials.",{"type":567,"attrs":579,"content":580},{"textAlign":49},[581],{"text":582,"type":572},"The strategy comes following the announcement by Nissan that it would build three electric vehicle (EV) models at its factory in Sunderland, as well as an additional battery gigafactory. ",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"The UK has struggled to compete, however, with the subsidies available in the US Inflation Reduction Act, which has helped drive a rapid increase in battery supply chain investment in the country.",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"“The UK Battery Strategy marks a significant step to bolster the EV and battery sectors, reinforcing the country’s world leading position in research and development,” Matt Stock, product director at Benchmark, said. “However, the stakes are high with strong international competition, and not fully seizing the opportunities in these sectors could hinder the UK’s global competitiveness.”",{"type":594,"attrs":595,"content":597},"heading",{"level":596,"textAlign":49},4,[598],{"text":599,"type":572},"Critical minerals",{"type":567,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":572},"The Strategy report highlights the need for critical raw materials to meet the growing demand for batteries, driven primarily by growth in EV demand.",{"type":567,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":572},"However, it acknowledges that the UK doesn’t have the domestic minerals required to meet this demand and emphasises the importance of diplomacy in securing the minerals required. It points to a Free Trade Agreement between the UK and Australia due to come into force by the end of the year as an example.",{"type":567,"attrs":611,"content":612},{"textAlign":49},[613,621],{"text":614,"type":572,"marks":615},"Benchmark’s Lithium Forecast",[616],{"type":617,"attrs":618},"link",{"href":619,"uuid":49,"anchor":49,"target":49,"linktype":620},"https://www.benchmarkminerals.com/forecasts/lithium/reports","url",{"text":622,"type":572}," shows that Australia will account for 42% of global lithium mining this year. However, the country accounts for just 1% of lithium chemicals production, with China accounting for 65% of this stage of the supply chain.",{"type":567,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":572},"Access to Australia’s spodumene could bolster the UK’s position in lithium chemical production with companies such as Green Lithium and Tees Valley Lithium looking to make lithium hydroxide domestically.",{"type":567,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":572},"But for other minerals the story is less optimistic. The UK has no cobalt refining capabilities nor does it produce battery grade manganese chemicals.",{"type":567,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":572},"In this regard, recycling could help. The Strategy states that “developing full commercial recycling capabilities is a significant opportunity for the UK given the growing demand for EVs.”",{"type":567,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":572},"In oral evidence given to the Business and Trade Committee in May this year, Benchmark Chief Executive Simon Moores said: “Recycling is a crucial component in building a sustainable battery supply chain, but it underlines more how important mining is.”",{"type":567,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":572,"marks":648},"Watch Benchmark CEO Simon Moores give evidence to the UK House of Commons Business and Trade Committee ",[649,652],{"type":617,"attrs":650},{"href":651,"uuid":49,"anchor":49,"target":49,"linktype":620},"https://www.youtube.com/watch?v=s5bgHiZC1jY",{"type":653},"italic",{"type":594,"attrs":655,"content":656},{"level":596,"textAlign":49},[657],{"text":658,"type":572},"Funding to bolster R&D",{"type":567,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":572},"The largest capital allocation in the Strategy is the £2 billion of new capital and R&D funding to build on the work of the Automotive Transformation Fund and Advanced Propulsion Centre, funding bodies investing in the electric vehicle supply chain.",{"type":567,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":572},"The Strategy also commits a further £61 million ($77.3 million) to projects within the Faraday Battery Challenge. This was set up in 2017 to drive growth in the UK’s battery sector. In 2022, the programme was extended to 2025. The finance allocated in the Battery Strategy brings the total funding of the Faraday Battery Challenge to £610 million ($775 million) since its inception.",{"type":567,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":572},"The Challenge’s funding is split across multiple bodies: The Faraday Institution focuses on research and lab-scale projects; Innovate UK manages business-led innovation and feasibility studies; and the UK Battery Industrialisation Centre (UKBIC) leads on scale-up projects.",{"type":567,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":572},"The Strategy allocates £38 million to enhance UKBIC’s facilities. UKBIC says some of the funds will be used to build a new flexible scale-up line to bridge the gap between the kilogram scale facilities available elsewhere and UKBIC’s existing volume industrialisation line.",{"type":567,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":572},"The UK Battery Strategy also delivers £12 million for the establishment of a new body. The Advanced Materials Battery Industrialisation Centre (AMBIC), in the West Midlands and North East of England, will focus on the development and commercialisation of novel battery materials including cathode and anode active materials.",{"type":567,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":572},"The investment into UKBIC and AMBIC aims to “[develop] the UK’s battery world-class capabilities, from R&D to industrialisation,” according to the Strategy.",{"type":567,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":572},"Moving beyond R&D and start-up is a challenge for UK businesses. The Strategy report states that access to “follow-on finance” to grow firms from “pre-revenue to manufacture” is currently difficult.",{"type":567,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":572},"Although the Strategy doesn’t outline any specific improvements in this area, one of the 15 measures states that the UK will “explore the case for new financial mechanisms to support start-ups in the battery sector, including through public/private equity investment with government seed funding.”","The UK has pledged over £2 billion ($2.5 billion) in research and development (R&D) funding for manufacturing and development of zero emission vehicles, their batteries and supply chains between 2025 and 2030. The funding is the first of 15 measures introduced in the Battery Strategy, which also includes £12 million ($15.2) to establish a new […]",[701],{"slug":555,"name":556,"content":702},{"job_title":558,"image":703,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"9c8601c7-50eb-4f4d-ac73-b26046611914\", \"id\": \"\"}-->","article",[707,710],{"slug":708,"name":709},"batteries","Batteries",{"slug":711,"name":712},"critical-minerals","Critical Minerals","private",{"id":49,"alt":715,"name":715,"focus":715,"title":715,"source":715,"filename":716,"copyright":715,"fieldtype":717,"meta_data":718,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/f260954dc6/bm-house-of-commons.jpg","asset",{"alt":715,"title":715,"source":715,"copyright":715},"Dec 01, 2023","1st December 2023",[],[],1781195693092]