The United States is still behind the curve in EV battery material manufacturing
Despite being a major player in the automotive industry, the United States has been slow to invest in car battery materials and production compared to other countries, particularly in Asia. This has put the US at a disadvantage as other countries have been able to establish a strong presence in the market and secure a competitive edge. Established players in Asia, such as Japan, South Korea, and China, have a head start in car battery production and materials and dominate the market. These countries have been able to invest heavily in research and development, build efficient supply chains, and establish strong partnerships with automotive companies, making it difficult for new entrants to compete.
While governments in Asia have provided significant financial and regulatory support to their domestic battery and automotive industries, the US government has been slower to invest in these sectors. This has made it more difficult for US companies to compete with their Asian counterparts, regardless of recent legislation passed by the Biden Administration to make sweeping changes to American benefits for the green energy transition. The US also faces infrastructure challenges, such as a lack of charging stations and battery recycling facilities, which can make it more difficult for the country to develop a strong car battery industry.
Tragedy struck New York as journalist Fazil Khan, 27, lost his life in a devastating apartment fire caused by a micromobility device's lithium-ion battery.