The widespread adoption of electric vehicles (EVs) has increased the need for efficient battery solutions, augmented safety, and an extended life span. To date, lithium-ion (Li-ion) batteries have been predominantly used in electric powertrain; however, the adoption of Li-ion battery chemistries such as nickel cobalt aluminum oxide (NCA), nickel manganese cobalt oxide (NMC), and lithium iron phosphate (LFP) has also gained momentum. As demand rises, battery costs will reduce from more than $1,000/kWh in 2010 to $100-$110/kWh in 2022 (and reduce even further beyond this). Many research institutions, battery suppliers, and key OEMs are collaborating to develop future battery chemistries with effective material performance, reduced production costs, and enhanced safety. As future chemistries (solid state, sodium ion, lithium sulfur) evolve, they will offer improved safety, increased energy density, and fast-charging capabilities, thereby overcoming the challenges associated with traditional Li-ion batteries.
GROWTH PIPELINE DIALOG™
Take your first step towards achieving growth-centric solutions with our
Growth Pipeline Dialog™. Speak to our industry experts in a complimentary open discussion that will spark innovative thinking and growth opportunities that will benefit your organization.