Breaking the bottleneck: Why domestic refining and PCAM/cathode production remain challenging outside of China and what technical and financial barriers must be overcome. The missing middle: Why PCAM and cathode manufacturing represent the highest-value ' and highest-risk ' segment of the battery supply chain, and what it will take to anchor this capability in North America. Policy and Incentives: What role government support and OEM commitments play in strengthening North America's midstream potential. End-User perspective: What do OEMs need from midstream suppliers?