US & South Korean Companies To Onshore More Battery Production To US
The dominance of China in the EV battery supply chain has raised concerns about the geopolitical risks associated with the reliance on one country for essential minerals and battery technology. As Chinese companies control over 70% of lithium-ion battery manufacturing and nearly all stages of the EV battery supply chain, this reliance on China puts the United States at a disadvantage in promoting clean energy and reducing carbon emissions.
Therefore, onshore production of EV batteries will not only decrease reliance on China and mitigate geopolitical risks but also lead to the development of a cleaner, greener, and more sustainable future for the United States. The signing took place at the Waldorf Astoria in Washington, DC, in conjunction with the intergovernmental meeting between US President Biden and South Korean President Yoon Suk Ye. QAD, a member of the NAATBatt Association, played a pivotal role in the MoU. QAD’s Head of EV and Mobility, Andreas Bareid, serves as a Co-Chairman of the NAATBatt Onshoring Committee and Board Member.
The NAATBatt Onshoring Committee is one of the association’s fastest-growing committees. Its primary focus is on connecting foreign battery industry associations with NAATBatt members and supporting their members in establishing business relationships with the organization. The committee’s main objective is to provide access to NAATBatt’s valuable resources, thus ensuring integration and sharing of knowledge.
Among the attendees were representatives from GM, Airgas, Amphenol, P3, Polaris, and Clarios. This event provided an opportunity for those involved to network, exchange ideas, and establish relationships that will promote job creation, economic growth, and secure and sustainable supply chains in the green energy sector.
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