The fourth edition of BNEF’s ranking finds Canada’s raw material resources, strong integration with the US automotive sector, and clear policy commitments have given it an edge over competitors
London, February 5, 2024 – Canada has overtaken China for the top spot in BloombergNEF’s (BNEF’s) Global Lithium-Ion Battery Supply Chain Ranking, an annual assessment that rates 30 countries on their potential to build a secure, reliable, and sustainable lithium-ion battery supply chain.
This marks the first time China has not claimed the number one position. Canada’s consistent manufacturing and production advances, and strong ESG credentials, have helped it become a leader in forming the battery supply chains of the future. Strong integration with the US automotive sector means Canada is also a big winner of the ‘friendshoring’ ambitions of the Inflation Reduction Act. The country’s position in BNEF’s ranking is propelled by policy commitment at both the provincial and federal level.
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