EUROPE – A recent report by S&P Global Platts highlights that the European Commission (EC) plans to propose sustainable battery rules for the E.U. by October.
The goal behind the rules, which are set to become binding by 2022, is to challenge China’s dominance of the global battery market. This involves securing a European supply of raw materials like lithium and developing a circular economy for all batteries produced or sold on the continent.
According to S&P, there are already four sustainable lithium mining projects underway that are set to meet up to 80% of Europe’s battery sector needs by 2025.
In parallel, the union has €7.6 billion available through the Smart Specialization Platform for innovative battery projects that concentrate on battery sustainability, performance, safety and recycling.
The EC’s focus on the battery sector is not only driven by a surge in the demand for electric vehicles, already noticeable in the first quarter of this year, when EVs’ share of the European market grew to 6.8%, but also due to increased interest from the renewable energy, defence and space industries.
This story originally appeared on www.Mining.com.