Electric vehicle (EV) batteries will be in high demand over the next decade, as carmakers ramp up production and the carbon neutrality era draws nearer.
A total of 145 million EVs are expected to hit the roads in 2030, a massive jump from 10 million in 2020, according to the International Energy Agency.
Ryan Castilloux, managing director of Adamas Intelligence, forecasts a “tsunami of demand” from EV manufacturers, which would then ratchet up pressure on battery companies and their supply chain.
Lithium-ion (li-ion) batteries are widely used by global carmakers to power their EVs. In a li-ion battery, lithium ions move from the negative electrode through an electrolyte to the positive electrode during discharge, and back the other way when charging.
Batteries are usually named after their cathode materials. Here are the four variants that power the EVs on the road today and in the future.
NCM battery is composed of lithium, nickel, cobalt and manganese. Different companies use the materials in different ratios. Therefore, their energy density can vary.
LG Energy Solution is deemed as a global leader with a grasp of the technology.
Contemporary Amperex Technology, a Chinese battery maker based in southeastern Fujian province,...
Read Full Story: https://www.scmp.com/business/companies/article/3154185/electric-vehicle-batteries-li-ion-packs-power-global-marquees
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