While Europe focuses on mining and gigafactory development, its most acute vulnerability lies in the midstream. With limited domestic pCAM and CAM capacity ' and over 70% of global production concentrated in China ' Europe's ability to control its supply chain and compete globally remains fundamentally constrained.

Why midstream matters more than ever ' and how CAM/pCAM are shaping geopolitical leverage?

Is it viable to build CAM capacity in Europe or North America, or are partnerships with Asia inevitable?

What's needed to localise precursor and cathode material production ' and who is already making progress?

What sourcing and cost challenges does the midstream gap create for cell makers and automakers?

How are downstream players navigating this gap in their supply chains?