1. Creating a domestic market is paramount for US Battery Industry to Close the Gap with China

    Creating a domestic market is paramount for US Battery Industry to Close the Gap with China

    Spurred by increased global demand for electric vehicles, energy storage systems and consumer electronics, lithium-ion batteries have become invaluable in today's global society. Industry experts say the United States has to create incentives for lithium-ion battery products to encourage manufacturers and decrease its dependence on Chinese imports.

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    1. We are in the midst of a global battery arms race in which the U.S. is presently a bystander.
    2. The Chinese have really captured control and dominance in lithium-ion manufacturing and may well be on their way to grab control of the leading position on the technology side as well.
    3. The key to getting a robust North American manufacturing base in lithium ion is that we've got to have a very robust North American market for lithium-ion battery products. And today, we just don't.
    4. If the [electric vehicle] market takes off … you can very easily see much more battery production coming into the United States.
    5. Battery facilities are highly automated, which is helpful to the U.S. in that it means battery costs are not necessarily driven by labor costs.
    6. Over 80 percent of the global supply chain of rare earth elements, important minerals for electric vehicles and wind turbine components, is controlled by one country.
    7. Those who control these critical raw materials and those who possess the manufacturing and processing know-how will hold the balance of industrial power in the 21st century auto and energy storage industries.
    8. America's dependence on foreign sources of critical materials undermines our energy security and national security.
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