Battery Prices, Grids, Data Centers, Supply Chains, Mexico
Copper, graphite, aluminium, lithium, cobalt and manganese are all seeing sharp demand increases thanks to electric vehicles, energy storage, grid expansion and data centers.
The size of the Mexican lithium-ion battery market is growing, with major downstream industries including automotive electronics, energy storage equipment, home appliances and power equipment. The growth of Mexico's electric vehicle industry and consumer electronics market is the main driving force for the growth of Mexico's lithium battery market.
Mexico's total lithium-ion battery imports in 2023 were approximately US$2.4 billion. From January to September 2024, Mexico's cumulative lithium-ion battery imports were approximately US$1.3 billion, and it is expected to continue to grow in the next few years.
According to the publisher's analysis, Mexico's free trade agreements (such as USMCA) also provide a good policy environment for its imported lithium-ion batteries, which further promotes the expansion of Mexico's lithium-ion battery imports.
To take full advantage of its lithium richness, Mexico needs a comprehensive, internationally-minded industrial policy to promote and increase its lithium value chain. Currently, Mexico already has a comparative advantage to other countries, like Bolivia, Chile or Argentina.
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