Canada has The Potential to Be World’s Leader in EV Battery Market

 

This view that Canada has the potential to become a world leader in the lithium-ion battery market is shared by many, in the country itself as well as by experts from across the globe. But along with this view, everyone also believes that the road to the realization of this potential is long and it would take a lot of effort to cover the length of this road. First of all this potential has to be recognized by policymakers and miners alike. Until and unless policymakers don’t recognize this potential not much of advancement in this goal is possible. Also, it has to be nurtured by miners. The reason for this belief that Canada can be the world’s market leader is the combination of the availability of natural resources required for lithium-ion batteries and the highly skilled workforce that the country has. Both these factors can help the country to create a sustainable value chain for battery materials. 

Canada is rich in lithium, graphite, nickel, cobalt, aluminum and manganese, which are crucial ingredients in battery manufacturing. But just having raw materials is not enough; if Canada has to become a market leader then it has to create an ecosystem that can help the battery market and industry to flourish. If they can create the right ecosystem then with the kind of raw material and skilled workforce they have there is a chance that Canada can become a leader in the lithium-ion and EV battery market. Lithium-ion battery suppliers in Canada also believe that Canada has this potential. Although lithium-ion battery suppliers in Canada firmly believe that way to this is value addition. They need to add raw materials into high-value chemicals, cathodes anodes and finally manufacture lithium-ion batteries.

 

Also if Canada has to become a leader in the EV battery market in the world then not only do they need to improve in manufacturing of lithium-ion batteries but they need to have lithium battery management systems manufacturing as well. Apart from policymakers and miners entrepreneur’s in Canada will also have to play a role if it has to become a world leader in the global battery market. Although this market globally is dominated by big players but Canada has a few small players who many investors believe have the potential to become top competitors in this market.