A six-year lithium off-take contract signed by LG Energy Solution and supplier Sigma Lithium “signals the importance of securing lithium supply and the importance of ESG,” an industry supply chain expert has said.
China has once again been ranked top for involvement in the global lithium-ion battery supply chain by BloombergNEF, but for the first time the US has come in second amid a policy rush to support the domestic industry.
The stationary energy storage system (ESS) industry will be a significant source of lithium-ion batteries that can be recycled and reused, the head of Finnish state-owned energy company Fortum’s battery business line has said.
Emphasis has been placed once again on the importance of developing domestic battery supply chains for electric vehicles and energy storage by the administration of US President Joe Biden, with the country currently highly dependent on imports.
With the US having rejoined the Paris Accord on the climate crisis last week, President Joe Biden has now signed an Executive Order which identifies the importance of mitigating risks in the supply chain for “large capacity batteries”.