Overview

Policy Summary 2024 The year of battery policy focused on securing and diversifying supply chains, protecting domestic industries, and seizing control and influence in the battery industry and in new generation technologies. NORTH AMERICA

The US DOE directed $3 billion in funding to support EV and grid battery supply chain development Canada launched the critical minerals hub and invested in production and traceability, but paused EV rebates US and Canada imposed higher tariffs on China-made EVs, batteries, and battery materials Mexicoʼs proximity to U.S. auto market and the USMCA realized new foreign investments and joint ventures

EUROPE

European Critical Raw Materials Act officially adopted Substantial investments will be made by European Commission and the European Investment Bank to support EV battery cell manufacturing products EV subsidies continue in many countries, but Germany halted subsidies for 2024 Increased tariffs up to 45.3% on China-made EVs depending on the manufacturer

GLOBAL POLICY TAKEAWAY/TRENDS

ASIA

China has introduced new industry standards aimed at phasing out low-quality capacity China set out a proposal to ban the technology exports for high-end LFP CAM and lithium processing China reduced or removed the rebate on export taxes on a range of battery-related products China extended the EV tax reduction and exemption policy to 2027, and has introduced a vehicle scrappage scheme favouring EVs

REST OF WORLD

Indonesia started to enact policies that penalize low-grade and high-emitting nickel smelting operations Argentina signed a MoU with the US that would grant it free-trade status with respect to critical minerals

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