The Spanish presidency of the EU Council is warning the international community about dependence on China for lithium-ion batteries and fuel cells. Without countermeasures, the EU could become as dependent on China by 2030 as it was for energy supplies from Russia before the war in Ukraine, according to a strategy paper prepared for EU heads of state and government and seen by the Reuters news agency. gift.
It is intended as a basis for discussions on Europe’s economic security during the EU summit in Granada, Spain, in early October. The paper says Europe will need energy storage to reach its goal of zero greenhouse gases by 2050 due to intermittent wind and solar power. As a result, demand in the EU for lithium-ion batteries, fuel cells and electrolyzers needed in hydrogen technology will increase ten to thirty times in the coming years.
“May become dependent on China”
“Without the implementation of effective measures, the European energy ecosystem could end up in a dependence on China by 2030 that is different, but similar in severity, to that of Russia before the invasion of Ukraine,” the report said. The EU has a strong position in the production of electrolyzers, but is heavily dependent on China for fuel cells and LI-ion batteries needed for electric cars.
Lithium-ion batteries and fuel cells are also not the only areas where the EU is vulnerable, the newspaper said. A similar scenario could occur with digital technologies. Forecasts indicate that demand for sensors, drones, servers, storage devices and data transmission networks will rise sharply this decade. The EU has a relatively strong position when it comes to networks, but has significant weaknesses in other areas.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
