What is the EV industry doing in terms of material sourcing transparency and reporting?

The EV industry is committed to continuing to increase transparency with regard to material sourcing and reporting. Many manufacturers are already providing information on where materials used in their vehicles have come from. This is a shift from petrol and diesel vehicles, which traditionally have not provided transparency on where materials are sourced.

Importantly, Australia is home to many critical resources used in manufacturing EVs, including Iron, Lithium, Nickel, Cobalt, Phosphate and Copper. There is an important opportunity for Australia to accelerate the extraction and processing of these minerals to support the ethical and sustainable supply of these minerals globally.

It should also be noted that there is an increasing shift away from nickel and cobalt-based batteries for non-performance EVs, primarily lithium iron phosphate (LFP) batteries. LFP EV batteries provide adequate driving range, but are less expensive to manufacture.