Exclusive: United States sets sights on China in new electric vehicle push – by Ernest Scheyder (Reuters U.S. – April 5, 2019)

https://www.reuters.com/

(Reuters) – U.S. government officials plan to meet with executives from automakers and lithium miners in early May as part of a first-of-its-kind effort to launch a national electric vehicle supply chain strategy, according to three sources familiar with the matter.

While Volkswagen AG, Tesla Inc and other electric-focused automakers and battery manufacturers are expanding in the United States and investing billions in the new technology, they are reliant on mineral imports without a major push to develop more domestic mines and processing facilities.

China already dominates the electric vehicle supply chain. It produces nearly two-thirds of the world’s lithium-ion batteries – compared to 5 percent for the United States – and controls most of the world’s lithium processing facilities, according to data from Benchmark Minerals Intelligence, which tracks prices for lithium and other commodities and is organizing the Washington, D.C., event.

U.S. imports of lithium have nearly doubled since 2014 due in part to rising demand from Tesla, SK Innovation Co and others building battery plants in the country, according to the U.S. Geological Survey.

“We need to find ways to more efficiently develop our nation’s domestic critical mineral supply because these resources are vital to both our national security and our economy,” North Dakota Senator John Hoeven, a member of the Senate’s Energy and Natural Resources Committee, said in a statement to Reuters when asked about the meeting.

For the rest of this article: https://www.reuters.com/article/us-usa-lithium-exclusive/exclusive-united-states-sets-sights-on-china-in-new-electric-vehicle-push-idUSKCN1RH1TU

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