In 2021, global electric vehicle (EV) sales were up 109% on the previous year, with 2.3 million sold in Europe as the continent increases its share of the market. Europe’s growing appetite for emobility is great news for its ambitions as a sustainability leader. However, the same cannot be said for its lithium-ion battery production capacity. In 2020, Europe accounted for just 6% of global capacity, behind Asia on 85%, and the US on 9%. On top of that, there are growing markets for the likes of electromobility and residential storage and grid-scale storage which will also add significant demand to the equation.