Toronto, Ontario — Canada has lots to offer in terms of resources for the electric vehicle (EV) supply chain–and it shows, according to BloombergNEF’s annual 2023 ranking of battery supply chain development, wherein Canada has beaten China for the number-one spot overall.
BNEF’s analysis is based on 46 metrics evaluated across five categories: raw materials, battery manufacturing, downstream demand, environmental and social governance (ESG) and industry, infrastructure and innovation.
Through these categories, the ranking system specifically looks at each country’s potential to build a secure, reliable and sustainable supply chain for lithium-ion batteries.
In the 2022 rankings, Canada came in second behind China. According to the report, Canada’s ascent this year is attributed to “consistent manufacturing and production advances and strong ESG credentials.”
“Canada has improved or maintained its performance in all five categories in the last two editions of the rankings,” said BNEF, and “raw materials remain the backbone of the [country’s] supply chain.”
In battery manufacturing and downstream demand, Canada also rose to seventh position in the category, an improvement from past results in which the country has held the 8th and 10th positions respectively.
In terms of ESG criteria, Canada maintained its 6th position in the category and is the only North American country to make the top ten in this section.
Lastly, in the category of industry, infrastructure and innovation, Canada moved up two spots to secure second place within the section.
When looking at overall calculated rankings, for North America, the United States came in third place and Mexico reached 19th place.