Over-reliance on China could disrupt the UK's energy supply chains, threatening 90,000 jobs. A left-leaning thinktank warns that a year-long disruption to essential battery components for electric vehicles could result in the loss of 580,000 electric car productions and 90,000 jobs. Delays in solar component and battery supply may also hinder solar farm expansion, jeopardizing the UK's clean energy goals and costing the economy £1.5 billion annually. This concern arises amidst geopolitical turmoil post-Covid-19, including the halt of Russian gas supplies and escalating global trade tensions. The report emphasizes that China's control over 80-90% of global refining for critical minerals exacerbates these risks. The thinktank advocates for 'securonomics' through international investment and partnership. Experts highlight the UK's vulnerability due to its heavy reliance on trade for essential resources, including clean energy technologies. They urge diplomats to foster partnerships for energy security, emphasizing potential win-wins. China's dominance in manufacturing electronic technologies, including renewable energy components, is notable. Despite trade tariffs, China's global trade surplus reached a record trillion dollars last year. Economists predict continued market share gains, with Chinese firms establishing overseas hubs. However, China is also addressing economic imbalances and export volume concerns. The thinktank recommends government clarification on Chinese investment in clean energy supply chains and increased investment in domestic battery and green steel production. International stockpiles of solar, batteries, and critical minerals are also suggested to mitigate supply chain risks. The government counters by emphasizing its strategies to support the automotive and clean energy sectors, reducing import dependency, and safeguarding British jobs.
