Driving the Future: Leveraging Regional Cooperation for Inclusive, Sustainable, and Resilient Electric Vehicle Battery Supply Chains
Published Date | August 2024 |
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Type of Publication | Reports |
Publication Under | APEC Secretariat, APEC Policy Support Unit |
Accessed | 755 |
Pages | 11 |
Download publication | Download |
Description
Global momentum toward electric vehicles (EVs) adoption is strong, with the APEC region leading the charge. APEC economies have committed to ambitious vehicle electrification targets, driving a rapid increase in battery EV sales. Despite the promise of growth, challenges to EV supply chain sustainability remain: high costs, battery reliability, extreme weather, and geopolitical risks. Furthermore, the environmental impacts of mining critical minerals and the energy-intensive nature of battery production are of particular concern. This policy brief discusses the challenges and potential solutions for developing a sustainable and resilient EV battery supply chain in the APEC region, highlighting the importance of regional cooperation to promote innovation and reduce environmental impact.