Biden on EV cars and lithium. Here
You know, it has — China — the largest, fastest-growing electrical vehicle market in the world, and a key part of an electric vehicle is the battery. Right now, 80 percent of the manufacturing capacity of those batteries is done in China, though not the battery for the 150 — the F-150. We went down to Georgia and took care of that.
That allows them to corner the market on the supplies and raw materials for those batteries. Important almost — importing almost all the lithium — 90 percent — that comes from countries from like Australia, which lead the world in mining these kinds of critical materials.
And here’s the deal: It’s not that China’s battery technology is that much more innovative than anyone else’s. Remember, our national labs in the United States, our universities, our automakers led in the development of this technology.
But today, China has a bigger manufacturing scale than all other countries. And they’re using that scale to make these batteries not just in China, but they’re making them in Germany and in Mexico. And they’re now exporting those electric vehicles around the world, with sights on the American market.
And they think they’re going to win. Well, I got news for them: They will not win this race. We can’t let them. (Applause.) We have to move fast, and that’s what you’re doing here.
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