China's Surging Lead In The EV Battery Circular Economy
Date
11/6/2024 7:05:33 AM
(MENAFN- Asia Times)
As the electric vehicle (EV) market surges worldwide, battery recycling and circular Economy initiatives have become essential to the global green transition. China, already a dominant player in EV battery production, is now expanding its reach into the battery recycling sector, aiming to build a closed-loop supply chain.
This strategy not only addresses the challenge of resource scarcity but also grants China a new competitive edge in the global green technology arena, positioning it as a leader in the emerging circular economy, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible.
The key materials for EV batteries, such as cobalt, lithium, and nickel, are limited in supply and environmentally costly to extract. China has established a strong foothold in the battery supply chain through its extensive control over global mineral resources, securing significant stakes in cobalt mines in Africa and lithium sources in Latin America.
However, China's ambitions go beyond control over raw materials. By fostering a robust battery recycling industry, China is working to reduce its reliance on newly mined minerals while simultaneously lowering the environmental impact of EV battery production.
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