Sanderson’s new book ‘Volt Rush’ describes the battle for the important raw materials needed to realize the green transition, and most supply connections lead from China, he tells TV2.
For example, the key components used to make batteries for electric cars come from China, as does 80 percent of the world’s solar panel production (in fact, the US and Europe account for less than 3 percent).
It is unlikely to decrease in the next 15 years
So when Denmark weans itself from one dependency, it can quickly find itself in another.
“It will take at least 15 years before Europe can become independent of China in the green transition,” warned Sanderson.
Stifle roof on wind and solar energy
Despite the prowess of Danish companies such as Vestas, China has built more offshore wind turbines over the past five years than the rest of the world combined.
Most critically, China is the leading producer of the rare earths that go into the magnets that generate power in the turbines.
For a time, China was the only country mining rare earths, although some, such as the United States and Australia, have recently reopened their mines. Nevertheless, China has a head start as it has been committed since the 1970s.
And also electric cars
China produces 80 percent of the world’s lithium batteries, and more than half of the batteries used in electric cars.
For example, Chinese CATL, the world’s largest manufacturer with a 34 percent share, supplies Tesla.
A few years ago, McKinsey estimated that demand for electric car batteries would increase by 30 percent each year in the 2020s.
Source: The Nordic Page