Friday, March 29, 2024
ElectricInnovations of EV battery Startups get one step closer...

Innovations of EV battery Startups get one step closer for commercialization

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The global EV battery market is expected to witness sustainable growth (CAGR of 16%) from 2020 to 2025 due to the rising demand for electric vehicles across the world. The continuous rise in the adoption of electric vehicles due to the COVID-19 pandemic and the high fuel prices has increased the need for new technology development across the electric vehicle battery market. A startup EV battery manufacturer QuantumScape, funded by the likes of Volkswagen, has raised USD 1.5 billion intending to manufacture low-cost batteries that could lead to electric vehicles with significantly longer ranges, are safer to operate, boast longer lifespans and support faster charging. Rather than using the industry-standard mixed-metal cathode as the separator, QuantumScape has developed a solid ceramic separator. The battery is manufactured without the anode and the electrolyte making it more compact, more energy-dense, and safer to operate. When the battery is charged and discharged, the lithium metal moves through the separator and creates a thin layer of a lithium-metal anode. By using this battery, an electric vehicle could charge to 80% of capacity in 15 minutes compared to the conventional hour-long charging times.

Another EV battery manufacturer OneD Battery Sciences has created SINANODE, which integrates into existing manufacturing processes, tripling the energy density of the anode while reducing its cost per kWh by half. The higher energy density increases battery range while nanowires reduce the charging time. Leading graphite suppliers, battery and electric vehicle manufactures in the U.S., Europe, and Asia, have tested SINANODE by applying the technology to commercial EV-grade graphite used in the anodes of EV batteries. SINANODE was developed with commercial manufacturing CVD equipment available from multiple vendors, using only silane and nitrogen gases. This reduces the investments and time necessary to scale up the SINANODE step to EV quantities, while decreasing the cost of EV anodes by almost 50%, compared to the cost of most of the anodes used in EV batteries today.

  • Growing adoption of electric vehicles is aiding to the growth of EV battery market

the Government of India is planning to set up 69,000 charging stations across the country by 2030. Moreover, the increasing efficiency starting from charging station set-ups to fast charging of the electric vehicle is expected to create a significant growth opportunity for the market in near future. With the growing requirement for EV batteries, the suppliers are finding newer sourcing and procurement methods for optimizing the cost of manufacturing, reducing the volatility of obtaining raw materials, and improving profitability.

  • The global EV battery market is fragmented and competitive, with many large suppliers collaborating with mid-sized or small-sized companies to leverage their regional manufacturing capabilities

Leading EV battery suppliers are mostly manufacturing EV batteries for their in-house charging infrastructure development. Hence, the competition is particularly high among the smaller regional EV battery suppliers. An increase in mergers and acquisitions, coupled with diffused customer concentration, has enabled the EV battery suppliers to secure add-on offerings to realize growth in new geographies.

  • Raw material costs make up the bulk of the cost head. The total cost of ownership is significantly influenced by the cost of integrating the battery in the electric vehicle. – Raw materials, including lithium, graphite, MN+Li+Co, are the biggest cost component of EV battery manufacturing; accounting for more than 60% of the total cost.
  • The Asia Pacific region holds the highest share of the global EV battery market, thanks to China’s position as the leading sourcing destination due to its low cost of labor. – The majority of the big players in the market are based out of APAC. It is also the fastest-growing market, owing to the supportive policies of China’s government and the development of China as the global EV battery manufacturing hub. However, the majority of the EV battery produced in China are sold to domestic electric vehicle manufacturing companies.
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