US and Europe begin their quest for secure REE supply chain

Partnerships and investments to diversify rare earth elements supply chain are expected to increase in the US and Europe supported by new policies and regulations.

As electric vehicles (EVs) continue to become mainstream and witness rapid adoption across the world, securing an uninterrupted supply of rare earth elements (REEs) has emerged as a critical issue for automakers and governments alike. Demand for REEs and other critical materials for battery and permanent magnet for e-motors is expected to witness an exponential rise over the next decade, compelling automakers, tier 1 suppliers and governments to look for ways to establish a secure and sustainable supply chain for critical raw materials.