From Minerals to Megawatts 2025

Simplified EV value chain and region of production for each value chain segment FIGURE 6 Landfill 4Refining:Recycling Processing:2Refining and processing % of total valueSmelting crude metal Refining electrolytic, chemical Chemical conversion sulfates, carbonates, etc. Casting, rolling and alloying ingots, sheets, rods, foils, alloys Machining and forming wires, structural parts, connectors Chemical synthesis electrolytes, polysilicon, etc.Mining and extraction % of total value Exploration and developmentMining operationsCrushing and concentration 3Manufacturing Component/equipment production and assembly End product% of total value % of total value– Subsystem integration – Final vehicle assembly and testing Original equipment manufacturers /tier 1 suppliersEnd use Key: Market share by geography (% of total value)Capacity addition timeline Capacity addition timeline Capacity addition timeline Capacity addition timeline Assembly End useStructural Chassis Body panels Casings Motors Magnets RotorsCopper windingsStators Wiring and electronics Wires Chips PCB Connectors Battery ComponentsCell assemblyModule, pack China Asia Europe Middle East North AmericaAustralia Latin AmericaAfrica OtherSimplified electric vehicle value chain 10-20 Years Years YearsYears3-8 1-5 1-3 1 2 3 4 Electric vehicle Distribution to market End-of-life Sources: USGS,17 IEA and Kearney analysis From Minerals to Megawatts: Building Resilience for EVs, Data Centres and Power Grids 15