Strategy Analytics: Electric Vehicle Battery Outlook Boost as Auto Makers Go All-Electric
OEMs exploring alternate chemistries and approaches as they secure partnerships
BOSTON–(BUSINESS WIRE)–OEMs have continued to announce partnerships to secure production capacity for battery cells and thus secure battery supplies to support their expansion plans in electrification. With demand for battery electric vehicles growing, demand for battery cells has correspondingly increased. These are some of the developments covered in the Strategy Analytics’ Electric Vehicle Service (EVS) reports: Electric Vehicle Batteries: LFP Boosted By Pack Topologies, But Race On For Cost-Effective Chemistries and Electric Vehicle Battery Outlook 2020-2029: Production Boost as Auto Makers Go All-Electric, Supply Also Being Localized.
Alternative approaches such as the use of Cell-To-Chassis and Cell-To-Pack topologies, combined with cost-effective lithium iron phosphate (LFP) batteries are also being actively pursued alongside other chemistries and approach. LFP batteries can raise energy density at pack level and this is leading to their increasing in China, with BYD’s Blade Battery a primary example. Higher battery material costs are compelling the industry to also look at developing circular economies to maximize material usage through the full life cycle of the battery.
“With further incentives promoting electric vehicle use and some countries mandating bans on the future sale of new combustion engine-powered vehicles, auto makers have responded by adjusting their businesses to become “all-electric” – effectively causing a rapid increase in the demand for electrification,” says Kevin Mak, principal analyst in the Global Automotive Practice (GAP). “The resulting levels of battery demand growth have also been rapid. This has led to higher cost in battery materials, leading to developments in diversifying battery chemistry. With the concentration of battery material processing and cell production in China, there have also been developments in further localizing material processing and cell production in Europe and North America.”
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Report contacts:
European Contact: Kevin Mak, +44 (0)1908 423 644, kmak@strategyanalytics.com
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