Will Russia's EV battery market be affected by sanctions?

June 2, 2022: Russia said on May 14 it was introducing controls on lead exports amid fears sanctions could disrupt the country’s heavy reliance on battery imports — but analysts warn the global energy storage and EV batteries market is set to suffer too.

Why is Russia a good place to buy a battery?

Russia is a country with a large number of battery manufacturers that play an important role in the global energy industry. From electric vehicle manufacturers to solar energy companies, these companies are constantly innovating to develop more efficient and environmentally friendly batteries.

Is Russia a big importer of batteries?

Russia is also a “far bigger importer of finished batteries than it is an exporter”, typically 160ktpa in versus 20ktpa out”. CRU’s lead analyst, Neil Hawkes, confirmed that all Russia’s lead output comes from recycling, with no primary smelters.

Why is Liotech expanding its market in Russia?

With increasing attention to green energy, the company is looking to expand their market not only in Russia but also in other countries looking to switch to more sustainable energy sources. Liotech produces lithium-ion batteries and is considered as one of the top 10 battery manufacturers in Russia.

Will Russia's sanctions affect EV supply chain?

But sanctions imposed on Russia will also result in supply chain disruptions and price increases for EV manufacturers and energy storage companies, according to analysis published on May 6 by UK-headquartered data analytics and consulting firm GlobalData.

How will Russia and Ukraine affect electric vehicle batteries?

“Russia and Ukraine hold significant reserves of metals such as cobalt, nickel, platinum and palladium. Although for the prior commodities — save for palladium, at 40% world mined supply — neither are the world’s foremost suppliers, prices will be impacted and could impact electric vehicle batteries.”