Posted BY: | NwoReport
Joe Biden’s focus on green energy, particularly Electric Vehicles (EVs), is at risk of ceding economic power to China due to the lack of a secure American supply chain. The United Auto Workers (UAW) strike against significant automakers, GM, Ford, and Stellantis, highlights concerns about job security amidst the EV push.
China benefits significantly from any setbacks in the Biden administration’s EV plans. Not only does China produce the majority of the world’s EVs, but it also controls vital components of the EV battery supply chain. This includes nearly 70 percent of the world’s lithium, 95 percent of manganese, 73 percent of cobalt, 70 percent of graphite, and 63 percent of nickel, all essential minerals for EV battery production.
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In contrast, the U.S. lacks domestic mineral processing capacity despite Biden’s optimism about the American economy’s and consumers’ readiness for EVs. China also dominates the production of key EV battery components, such as cathodes (77 percent), separators (74 percent), electrolytes (82 percent), anodes (92 percent), NMC cathodes (73 percent), and LFP cathodes (99 percent). In contrast, the U.S. only produces one percent of the world’s NMC cathodes used in EV batteries.
Conclusion:
Biden’s commitment to green energy, specifically EVs, faces challenges that could harm the U.S. economy and job market. The ongoing UAW strike underscores concerns about job security in the face of rapid EV adoption. China’s control over the EV battery supply chain, including critical minerals and components, puts the U.S. at a significant disadvantage.
The U.S. must establish a robust domestic supply chain for EVs to maintain economic power and secure jobs. This involves increasing mineral processing capacity and ramping up production of key battery components. Failure to do so could lead to China’s dominance in the EV market and weakening U.S. economic influence.
