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Diversification Diminishes Risk
Manufacturers are increasingly seeking non-China sources for LFP materials due to geopolitical tensions and the desire for geographic diversity in their supply chains. The COVID-19 shutdowns in China highlighted the vulnerabilities in relying on a single source, as supply chain disruptions were felt in the West long before the pandemic officially reached those countries. This context has created an opportunity for alternative suppliers to meet the demand for diversified sources while reducing risks associated with over-dependence on Chinese production.