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do the EU election results mean for the battery industry?  ","what-do-the-eu-election-results-mean-for-the-battery-industry","article/what-do-the-eu-election-results-mean-for-the-battery-industry",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":727,"featured":51,"reporter":728,"_editable":732,"component":733,"seo_title":553,"categories":734,"visibility":741,"author_company":49,"featured_image":742,"seo_description":727,"author_full_name":49,"author_job_title":49,"formattedDate":748,"formattedArticleDate":749},"91894a76-b65e-498b-8536-eec711c43ab3","2024-06-28 00:00",[560,563,566,569],{"slug":561,"name":562},"elections","Elections",{"slug":564,"name":565},"europe","Europe",{"slug":567,"name":568},"european-union","European Union",{"slug":570,"name":571},"policy","Policy",[573],{"slug":574,"name":575,"content":576},"didi-bostock","Didi Bostock",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Editor - Energy Transition & Economics",{"filename":579},"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":583,"content":584},"doc",[585,592,597,612,625,632,637,642,647,652,657,662,667,672,677,682,687,692,697,702,707,712,717,722],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589],{"text":590,"type":591},"EU battery buildout is set to become further integrated into policies around security and economic competitiveness after the bloc’s June elections led to a rightward shift in parliament.","text",{"type":586,"attrs":593,"content":594},{"textAlign":49},[595],{"text":596,"type":591},"Recent calls for an Industrial Deal to support the Green Deal suggests this emphasis on manufacturing competitiveness could still stimulate battery capacity growth even as the EU’s focus on climate softens. ",{"type":586,"attrs":598,"content":599},{"textAlign":49},[600,602,610],{"text":601,"type":591},"The EU is already a hotspot for lithium ion expansion, with Benchmark’s ",{"text":603,"type":591,"marks":604},"Lithium ion Battery Database",[605],{"type":606,"attrs":607},"link",{"href":608,"uuid":49,"anchor":49,"target":49,"linktype":609},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/","url",{"text":611,"type":591}," indicating the region will overtake the US to become the second biggest cell supplier behind China by the mid 2030s. It is already the second-biggest EV market.",{"type":586,"attrs":613,"content":614},{"textAlign":49},[615,617,623],{"text":616,"type":591},"However, policy choices remain influential in deciding the bloc’s future battery-producing capacity. The EU still needs more investment to meet critical minerals supply targets and is also coming under pressure to ",{"text":618,"type":591,"marks":619},"compete with US",[620],{"type":606,"attrs":621},{"href":622,"uuid":49,"anchor":49,"target":49,"linktype":609},"https://source.benchmarkminerals.com/article/eu-agrees-e902-million-aid-to-northvolt-as-europes-battery-production-set-to-fall-behind-north-america",{"text":624,"type":591}," battery manufacturing incentives.",{"type":626,"attrs":627,"content":629},"heading",{"level":628,"textAlign":49},4,[630],{"text":631,"type":591},"What happened?",{"type":586,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":591},"The pro-business European People’s Party (EPP) maintained its position as the biggest party in the European Parliament after the June elections.",{"type":586,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":591},"At the same time, the biggest gains went to the European Conservatives and Reformists (ECR) and the radical populist Identity and Democracy (ID). The green and centrist blocs meanwhile saw the biggest losses. ",{"type":586,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":591},"ID broadly opposes the EU Green Deal and includes many climate sceptics. The ECR has been critical towards elements of the Green Deal as well as policies to phase out combustion vehicles. ",{"type":626,"attrs":648,"content":649},{"level":628,"textAlign":49},[650],{"text":651,"type":591},"What does this mean for future battery policies?",{"type":586,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":591},"The pro-business EPP’s continued parliamentary dominance should instil confidence among lithium ion stakeholders. ",{"type":586,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":591},"However, a weakened green bloc and the electoral threat from ID and ERC will push the EPP to lower its climate ambitions. This will accelerate a pre-existing shift in the EU to prioritise defence, security and economic competitiveness.",{"type":586,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":591},"In practice, this means lithium ion related policies will increasingly need to be justified in terms of their contribution to economic productivity and geopolitical strategy rather than environmental targets per se. Battery scaling will also likely be pursued as part of policies primarily geared towards economic and resource security goals. ",{"type":586,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":591},"However, none of this is entirely new and the EU’s ongoing tendency to fold energy transition buildout into security goals has not undermined lithium ion buildout so far. For example, it was the supply chain disruptions resulting from the pandemic and the Ukraine war that initially revived EU interest in industrial policy, such as the Critical Raw Materials Act (CRMA) tabled in 2023. ",{"type":586,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":591},"A potential industrial deal could become another example of how a sharper security focus could sustain EU battery buildout. The proposed law aims to prevent European deindustrialisation by helping companies bear the costs of Green Deal regulations. ",{"type":586,"attrs":678,"content":679},{"textAlign":49},[680],{"text":681,"type":591},"“A potential industrial deal with greater emphasis on European competitiveness by the European Commission could bode well for the bloc’s battery build-out. This matches with the EU’s goal to further foster its green industrial competitiveness and economic security vis-à-vis the US and China,” said Bryan Bille, policy analyst at Benchmark.",{"type":626,"attrs":683,"content":684},{"level":628,"textAlign":49},[685],{"text":686,"type":591},"How will the results impact battery-related polices that already exist or are being developed? ",{"type":586,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":591},"Most environmental and battery-related policies that have already been adopted by the EU will not be affected. However, gains by the ERC and ID could affect two pieces of legislation important in determining regional EV demand.",{"type":586,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":591},"One is the legislation on phasing out internal combustion engine vehicles by 2035, which is coming up for review among EU lawmakers in 2026. The more climate-sceptic wing of the EPP may be willing to ally with ID and ECR to water it down. ",{"type":586,"attrs":698,"content":699},{"textAlign":49},[700],{"text":701,"type":591},"Another is the European Commission’s proposed target of reducing EU emissions by 90% on 1990 levels by 2040, an ambitious goal that is still up for negotiation between EU member states and parliament.",{"type":626,"attrs":703,"content":704},{"level":628,"textAlign":49},[705],{"text":706,"type":591},"What impact could the election have on the French lithium ion industry?",{"type":586,"attrs":708,"content":709},{"textAlign":49},[710],{"text":711,"type":591},"The most immediate impacts of the EU elections on the battery supply chain may be felt in France. Here, president Emmanuel Macron called a snap general election after the National Rally (RN) beat his centrist party by a wide margin in the EU vote.",{"type":586,"attrs":713,"content":714},{"textAlign":49},[715],{"text":716,"type":591},"The RN, which has pledged to roll back France’s post-Green Deal renewable energy developments, could be on track to knock out of government and win power in France for the first time.",{"type":586,"attrs":718,"content":719},{"textAlign":49},[720],{"text":721,"type":591},"“An RN-led government could water down France’s climate and green industrial ambitions and have an impact on France’s growing battery industry,” said Bille.",{"type":586,"attrs":723,"content":724},{"textAlign":49},[725],{"text":726,"type":591},"Benchmark data shows France is tied with Hungary for having Europe’s second-biggest lithium ion pipeline. Its first cathode plant is expected to go live in 2026 and will contribute 4.5% of European supply by 2030.","EU battery buildout is set to become further integrated into policies around security and economic competitiveness after the bloc’s June elections led to a rightward shift in parliament. Recent calls for an Industrial Deal to support the Green Deal suggests this emphasis on manufacturing competitiveness could still stimulate battery capacity growth even as the EU’s […]",[729],{"slug":574,"name":575,"content":730},{"job_title":577,"image":731,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"91894a76-b65e-498b-8536-eec711c43ab3\", \"id\": \"\"}-->","article",[735,738],{"slug":736,"name":737},"batteries","Batteries",{"slug":739,"name":740},"geopolitics","Geopolitics","private",{"id":49,"alt":743,"name":744,"focus":744,"title":743,"source":744,"filename":745,"copyright":744,"fieldtype":746,"meta_data":747,"is_external_url":51},"EU flag in background, hand putting slip into ballot box in foreground","","https://a.storyblok.com/f/287943243085208/39adfdfc49/bm-eu-ballot-box-election-2024-1319994cc309.jpg","asset",{"alt":743,"title":743,"source":744,"copyright":744},"Jun 28, 2024","28th June 2024",[],[],1792773900078]