FROM GIGA TO TERA:

HOW BATTERIES ARE

SHAPING A NEW ERA IN US
AUTOMOTIVE STRATEGY
Andrew Miller, COO
Benchmark Mineral Intelligence

Battery Gigafactories USA 2023 | JW Marriott, Washington, DC

Thursday 8th June 2023

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www.benchmarkminerals.com | info@benchmarkminerals.com HQ: London, UK | Offices: Beijing, Edinburgh, Fort Lauderdale, Melbourne, New Delhi, Porto, San Francisco, Tokyo
+++
+++
+++ We are entering the 4th chapter of the lithium ion story
+++

60 1,000 ~4,000
GWh GWh GWh

2015 2023 2030

© Benchmark Mineral Intelligence 2023 2

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+++ Lithium ion 4.0: fueled by efforts to maintain auto
+++
+++ dominance
BEV & PHEV sales % Penetration BEV & PHEV sales % Penetration BEV & PHEV sales % Penetration
Leading Auto Brands by 2023 1,454,493 9% 2023 3,113,331 20% 2023 9,007,980 35% Top 10 Countries
sales (2022) 19,171,081 61%
2030 7,100,797 32% 2030 12,895,754 56% 2030 by Battery
Production in
2022 (in GWh)

China 617.2

USA 49.4

Korea 46.8

Japan 21.1

Poland 20

Hungary 18

Malaysia 7

Singapore 3.4

Czech
Republic 1.8
BEV & PHEV sales % Penetration BEV & PHEV sales % Penetration BEV & PHEV sales % Penetration
Germany 1.25
2023 76,866 1% 2023 744,341 4% 2023 147,996 4%
2030 981,528 13% 2030 4,384,554 22% 2030 773,739 14%

© Benchmark Mineral Intelligence 2023 3

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+++ Vision 2030: What is needed to plug the US supply chain
+++
gap?

EVs Battery Midstream Raw Materials

3% 3%
14% 14%

+
-

Total Capex needed Total Capex needed

>$15 bn >$40bn

© Benchmark Mineral Intelligence 2023 4

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+++
+++ EV competitiveness now hinges on battery supply chain
+++
strategy

BOM Other

© Benchmark Mineral Intelligence 2023 5

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+++
+++ Reshoring is reshaping industrial strategy
+++
Current supplier Future supplier Undisclosed/None

Mining resources Battery Materials

OEM Batteries
Lithium Nickel Cobalt Cathode Anode Electrolyte Separators
BTR, Shanshan, Chinese Mitsubishi
Albemarle, Ganfeng, Vale BHP Panasonic, LGES,
Glencore Sumitomo suppliers Chem,Tincl Sumitomo
Yahua Talon metals CATL
Syrah (2024+) high-Tech

Ganfeng, Vulcan Energy Huayou cobalt Huayou cobalt LGES,

Umicore (2025)
(2026+) Tsingshan Tsingshan CATL, SDI

Sumitomo PPES

Lithium Americas, Controlled POSCO

QPM POSCO (2024+) LGES, CATL
Thermal Resources (2024+) (2024+) BASF

LGES,
SDI, CATL

SK On, AESC,
LGES, CATL

Vulcan Energy (2026+),

Controlled Thermal Resources Terrafame (2025+) CATL
(2024+)
SQM, Albemarle, Nemaska,
SK On, LGES,
EnergySource, Compass, Vale, Huayou, BHP
CATL
Ioneer, Liontown

Vulcan Energy (2026+) Terrafame LGES, AESC

Glencore, Managem
Ganfeng, Livent CATL, SDI, AESC
Group
*This table indicates public announcements and is not an exhaustive list. For full details, please contact info@benchmarkminerals.com

© Benchmark Mineral Intelligence 2023 6

For any further queries, Contact us:

amiller@benchmarkminerals.com
info@benchmarkminerals.com +
www.benchmarkminerals.com

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