Electric vehicle makers are eyeing ditching China and turning to noncompetitor countries like Indonesia for battery supplies to meet increasing demand without violating provisions of the Democratic climate legislation meant to move supply chains closer to home.
But Chinese dominance of the battery supply chain will be hard to work around, according to industry leaders and analysts, as China commands some 70% of it and has a hand in multiple segments, from mineral refining to battery manufacturing. U.S. industry will also be unable to meet demand on its own.
The new law divides the EV credit into separate critical mineral and battery component portions, each worth $3,750. The law also requires that by Jan. 1 of next year, an eligible electric vehicle battery contain at least 40% critical minerals extracted or processed in the United States or a U.S. free-trade agreement partner or recycled in North America.
He also said to expect EV manufacturers to also look to other regions, especially Indonesia, the globe's top producer of nickel, a mineral used in battery cathodes.
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