Batteries

[New] The volume of batteries available from electric cars for repurposing is set to grow more than 20-fold in the next 10 years and represents a tremendous opportunity for affordable storage.
[New] The long-term electrification of transport is projected to accelerate in the next decade and beyond as battery technology improves and the price of electric vehicles falls.
[New] Demand for NMC 9.5.5 batteries was forecast to see the greatest growth in demand in the next ten years.
[New] A new, low-cost, long-life battery is expected to be unveiled later in 2020 or early in 2021, which could bring the cost of electric vehicles into line with their gasoline counterparts.
[New] A whole new supply chain needs to be established for electric vehicles, and from a circular economy perspective, by 2030 manufacturers will need to find ways of extending the life of batteries, or reusing them in large numbers.
[New] The cost of lithium-ion batteries will drop by 60% over the next decade, helping enable a new set of charging solutions.
[New] Tesla is set to launch a million-mile battery as soon as this year or early in 2021 for its Model 3 in China, as part of a broader plan to introduce longer-lasting, low-cost batteries that would bring electric vehicle prices to parity with conventional gas-powered cars.
[New] Umicore expects huge volumes of spent batteries to start coming on to the market for recycling from around 2025.
Tesla, in partnership with Chinese battery maker CATL, plans to introduce its own million-mile battery later this year or early next.
The battery market will grow from 12 gigawatt-hours (GWh) in 2018 to 158 GWh in 2024L Energy storage is also likely to play a significant role in decarbonizing the electric power sector.
Electric carmaker Tesla plans to introduce a new low-cost, long-life battery into its Model 3 sedan in China later this year or early next.
If Tesla develops a million-mile battery for its EVs, then that new technology will enable it to begin sales of Virtual Power Plants to utilities around the world.
Production of battery metals such as graphite, lithium and cobalt will have to increase by nearly 500% by 2050 to meet the growing demand for clean energy technologies.
As manufacturers will have to deploy BEVs to meet stricter CAFE targets, by 2025 BEVs could add some 8 GWh of battery storage capacity to GB every year.
As electric vehicle adoption grows the world over, lithium demand from batteries - an essential component of vehicles - will double every five years to reach 1.6 million tons of lithium carbonate equivalent by 2030.
In comparison, S&P Global Platts Analytics expects battery demand from passenger electric vehicles to exceed 150 GWh already in 2020 - which translates into 128,736 mt of lithium carbonate equivalent next year.
Established companies and startups are already gearing up for what they say is an oncoming onslaught of spent batteries from the first commercially available electric vehicles, which are expected to reach end of life by 2025.
About 525,000 EV batteries will reach end of life by 2025 and over one million units will hit end of life by 2030.
By the end of 2021, the lithium market will return to balance as demand growth resumes from increased electric vehicle adoption and other batteries and eats up new supply.
Accelerating battery manufacture for EVs and energy storage is expected to outstrip the supply of lithium by 2022, and cobalt and nickel by 2030.
The global needle coke market is expected to witness high demand from the lithium ion battery anode segment wherein anode material manufacturers are switching to needle coke as an alternative to manufacture lithium ion batter anode.
Bloomberg forecasts that the global market for lithium-ion batteries, the dominant market leader, will be worth US$116bn (€106bn) by 2030, while battery storage installations will grow from a cumulative 17 GWh of storage in 2018 to 2,850 GWh by 2040.
With most EV batteries backed by an eight year warranty, 44 million electric vehicles could result in up to 11 million tonnes of battery waste generated worldwide within the next 20 years.

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Last updated: 31 May 2020