The US: A key partner and growth market

The era of electrification in the US has begun. Government policies and investment are combing with industry innovations to accelerate the green and digital transition within the energy and transport sectors.

As one of the world's highest emitters of CO2, it is imperative that rapid change within the US is achieved so that critical global and nation climate targets are met.

This presents a golden opportunity for both Nordic and American companies from across the battery value chain to collaborate in both markets to develop sustainable production and recycling value chains.

Nordic innovations in the spotlight at The Battery Show, North America

The Nordic Battery Collaboration is taking the most innovative Nordic companies to the upcoming Battery Show in Novi, Michigan. The future of groundbreaking advancements in battery technology is here - let's power a sustainable world together.

We will be hosting networking events, matchmaking, and showcase the best of the Nordics to accelerate partnerships and collaboration in the US and the Nordic battery ecosystems.

Why should Nordic companies look to the US?

The current Biden administration has introduced public investments in the green energy transition, including strengthening the battery supply chain through 45X credit. The primary investment policy, the Inflation Reducation Act, and other favourable market mechanisms, have put US back on the world battery plant manufacturing map. Several gigafactories have been announced, with scope for international partnerships that Nordic companies can contribute to with the technology, innovations, and expertise.

Key facts about the US market

  • While the US is investing heavily in cell manufacturing, developments are occurring across value chain as a result of strong federal legislation, funding, and incentives.
  • US battery clusters in the West and Northeast have a focus on R&D, while the Midwest is a hub for automotive OEMs transitioning to EVs with nearby battery plants.
  • Michigan as part of the Midwest is a growing battery cell manufacturing and recycling hub with potential for strategic collaboration with pioneering players.
  • The power sector is estimated to have the largest decrease in related emissions between 2025 and 2050 given the growth in renewables and decommissioning of coal and gas plants.
  • Batteries will play a key role decarbonising the transportation sector – a key driver for the projected electrification trend is that EV battery pack costs have decreased 90 per cent since 2010 and are expected to continue to fall
  • The US's share of EV vehicles is expected to increase from the 2018 figure of 1.2 per cent to 7.6 per cent by 2026. The fastest growing segment will be heavy-duty vehicles.
  • The US is estimated to add over 86GW utility-scale energy storage by 2035 to deal with the intermittency issues from renewables.