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The European Council's recent adoption of the Critical Raw Materials Act (CRMA) marks a significant step toward enhancing fleets' sustained access to electric vehicles (EVs) across the continent. Aimed at ensuring a secure and sustainable supply chain for crucial raw materials vital to the green economy, this legislation addresses the growing demand for materials like lithium, cobalt, graphite, manganese, platinum, and tantalum. With the global demand for lithium, essential for EV batteries and energy storage, projected to surge by up to 89-fold by 2050, the CRMA sets out provisions to safeguard the availability and sourcing of such critical resources.
Under the CRMA, 34 raw materials are designated as critical and 17 as strategic, establishing benchmarks for local extraction, processing within the EU, and utilization of recycled materials. The Act seeks to diversify the EU's sources of raw materials, ensuring that no single country accounts for more than 65% of its strategic materi
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