{"id":579835,"date":"2022-11-22T13:28:05","date_gmt":"2022-11-22T13:28:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/"},"modified":"2022-11-22T13:28:05","modified_gmt":"2022-11-22T13:28:05","slug":"europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/","title":{"rendered":"Europe and the US could become self-sufficient in EV batteries by 2030 \u2014 for the small sum of USD 160 bn"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The West could unwind its reliance on Chinese EV batteries by the end of the <\/strong><strong>decade \u2014 but it\u2019s going to come with a hefty price tag, <\/strong>Goldman Sachs strategists wrote in a report seen by the <a href=\"https:\/\/www.ft.com\/content\/458ebaf3-c1ee-499c-b7f3-2e5d7f1bb6df\">Financial Times<\/a>. The US and Europe would need to put down more than USD 160 bn in capex spending to become self-sufficient in EV batteries and break their reliance on Chinese manufacturers, who currently hold some 75% of market share. Protectionist policies, alternative kinds of batteries that don\u2019t rely on minerals mined mainly in China, and more battery recycling could also help break Beijing\u2019s dominance in the industry.<\/p>\n<p><strong>South Koren firms are stepping in: <\/strong>Major government subsidies have attracted South Korean giants LG and SK to invest in EV battery factories in the US. Goldman thinks US-based Korean manufacturers could capture more than half of market share in the next three years, up from a current 11%. LG Chem only today announced <a href=\"https:\/\/www.ft.com\/content\/3f3930ab-daf2-476f-86b5-638b575d6028\">it will build<\/a> a new USD 3 bn battery cathode factory in Tennessee, the largest of its kind in the US.<\/p>\n<p><strong>Not everyone thinks China can be beat so easily: <\/strong>One EV consultant told the FT that Goldman\u2019s USD 160 bn estimate is way below what\u2019s needed, adding that the 2030 time frame is too optimistic and the impact of battery recycling had been overestimated. The US is already facing labor shortages and wage inflation, making EV batteries more expensive to produce \u2014 with capex per unit some 78% higher than in China.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Earmark more time for your World Cup watch parties: <\/strong>The first five World Cup matches saw an average of 16 extra minutes of playtime, as FIFA changes up its rules to more accurately measure stoppages and maximize time when the ball is in play. The England-Iran match ran for 30 minutes longer than scheduled after a goalkeeper and a defender were injured, while yesterday\u2019s other matches also all saw significant extra time, football news outlet <a href=\"https:\/\/www.goal.com\/en\/news\/explained-why-so-much-added-time-world-cup-qatar\/bltf06b5d6c75f03bb6\">Goal<\/a> reports. \u201cThink about it: if you have three goals in a half, you'll probably lose four or five minutes in total to celebrations and the restart\u201d alone, chairman of FIFA's referees committee, Pierluigi Collina, told <a href=\"https:\/\/www.espn.com\/soccer\/blog-marcottis-musings\/story\/4805140\/pierluigi-collina-talks-to-espn-about-world-cup-refereeing\">ESPN (Listen: 1:08:35).<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The West could unwind its reliance on Chinese EV batteries by the end of the decade \u2014 but it\u2019s going to come with a hefty price tag, Goldman Sachs strategists wrote in a report seen by the Financial Times. The US and Europe would need to put down more than USD 160 bn in capex [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":579836,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[633,356,638,7196,131,162,500],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-579835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-enterprisepm","tag-evs","tag-for-your-commute","tag-industry","tag-manufacturing","tag-sports","tag-world-cup","wpautop","entry"],"acf":{"mongo_id":"811f18d4-b130-4697-8043-40a6477c9425","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/696.jpg","photo_position":"above","related_issue":[579831],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Europe and the US could become self-sufficient in EV batteries by 2030 \u2014 for the small sum of USD 160 bn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe and the US could become self-sufficient in EV batteries by 2030 \u2014 for the small sum of USD 160 bn\" \/>\n<meta property=\"og:description\" content=\"The West could unwind its reliance on Chinese EV batteries by the end of the decade \u2014 but it\u2019s going to come with a hefty price tag, Goldman Sachs strategists wrote in a report seen by the Financial Times. The US and Europe would need to put down more than USD 160 bn in capex [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-22T13:28:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/696.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Europe and the US could become self-sufficient in EV batteries by 2030 \u2014 for the small sum of USD 160 bn\",\"datePublished\":\"2022-11-22T13:28:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/\"},\"wordCount\":380,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/696.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterprisePM\",\"EVs\",\"FOR YOUR COMMUTE\",\"industry\",\"Manufacturing\",\"sports\",\"World Cup\"],\"articleSection\":[\"FOR YOUR COMMUTE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/\",\"name\":\"Europe and the US could become self-sufficient in EV batteries by 2030 \u2014 for the small sum of USD 160 bn - 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