The Market for Electric Vehicle Materials: Trends and Russia’s Role

Abstract

Energy transition implementation requires proliferation of ecologically safe electric vehicles, with their production depending on larger amount of non-ferrous metals and row minerals, which are produced mainly in the developing countries. But the developing world nowadays is rapidly increasing their consumption. As a result, the struggle for access to critical raw materials sources is escalating – countries worldwide cling to specific trade blocs premised on their own geopolitical reasoning. Resource-rich Russia suddenly finds itself in a transition situation both great challenges and new historical opportunities appear. The proposed ambitious goals for creating in Russia its own complete component base for autonomous production of electric vehicles require further consideration. The existing potential of technological, trade, and investment ties can be fully fulfilled by Russia in the growing markets of the developing countries.