NextSource Materials has been accepted as a member of both the European Battery Alliance and the European Raw Materials Alliance.
The EBA was established in October 2017 by the European Commission, the Executive Branch of the European Union, to bring together key stakeholders in the battery material, technology and financing space with the objective of building a strong and competitive European battery industry by 2025 in order to support the electric vehicle and energy storage system battery markets.
The ERMA was established in September 2020 by the European Commission to address the challenge of securing access to sustainable raw materials, advanced materials, and industrial processing know-how that vital for key EU industrial ecosystems, such as automotive, renewable energy, defence and aerospace.
The ERMA’s initial focus is on rare earth magnet and motor value chain, which will be expanded to include energy storage and conversion (batteries and fuel cells).
Europe predicted to lead the arrival of EV dominance in 12 years
As reported by Bloomberg, a new study by consultant Ernst & Young LLP predicts that global electric vehicle supremacy will arrive by 2033; five years earlier than previously expected, driven by tougher environmental regulations to curb climate change, coupled with intensifying interest and demand for zero-emission vehicles.
The study forecasts that by 2045, non-EV sales will fall to less than 1% of the global car market and it will be Europe leading the charge, with EV models outselling internal combustion engine systems by 2028.
That cross over point is predicted to arrive in China in 2033 and in the U.S. in 2036. This latest news once again reinforces that battery shortage is a major risk to the burgeoning electric car era. Security of supply of critical materials that go into these batteries is at the top of the agenda for governments around the world, and strategies to secure them will be a major focus for them.