BloombergNEF’s puts Canada second on its most recent annual global lithium-ion battery supply chain ranking.
However, BNEF was quick to note that “a lack of significant cell and component manufacturing capacity means that most of the value of these resources is realized outside of the country, although recent announcements from the likes of BASF, General Motors and Posco show an increase in battery investments.”"Our vision to build a battery ecosystem from mine to recycling has attracted billions in investments and positioned Canada as a leader," he said in a tweet.
Meanwhile, China continues to dominate BNEF’s ranking. For the third consecutive year, it finished first for both 2022 and its five-year projection for 2027. The increasing prices of lithium has also led to higher investments in carbonate and hydroxide refinery facilities in the country, making it the leading refiner of battery metals globally, BNEF said.