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The global electric vehicles battery market size is expected to reach $xx billion in coming years. One of the key factor fueling up the market is rising demand for electric cars. However there are several other reason responsible for driving the market for instance merger of key component manufacturers & increased number of OEMs as well as enhanced charging infrastructure. Besides, in coming future, the electric vehicle battery market specifically built for passenger cars will comparatively witness faster growth than the commercial vehicle. By knowing that usage of electric vehicles gradually lessens the high emission levels has fostered governments to promote it actively.Get additional insights at: Electric Vehicles Battery Market
Electric vehicles (EVs) and hybrid electric vehicle (HEVs) are the two factors that will dominate the global electric vehicle battery market positively. EVs and hybrid vehicles are primarily powered by batteries. Various countries are taking initiatives in towards reduction of global warming. On increasing verge, countries are offering tax benefits and incentives to mount the use of green vehicles like EVs and HEVs. Moreover, to involve more and more manufacturers for the production of EVs and hybrid vehicles, top vehicle market regions have started providing subsidies and incentives to them. This will be another factor towards the promotion of the sale of electric vehicle battery market in the upcoming time.
Innovations by the EV industry players:
One of the highly-priced German automaker, Porsche, announced it will bake three years of unrestricted battery charging into the rate of its first ever electric vehicle. In addition to that, Porsche Taycan, an all-electric sports car owners will be offered fast-charge services with help of installed charging stations. It partnered with Electrify America at the time of electric sedan launch. Besides that, it is 600-horsepowered and will be able to travel a 310 miles with a fully charged battery. It contains specialized 800-volt battery that has ability to absorb 350 kilowatts resulting in faster charging. So far, this vehicle has been quicker than any other vehicle and as compared to Tesla, whose batteries were competent to absorb 120 kilowatts. However, Tesla’s Model S beats the Taycan in terms of range, as it thrived to the largest capacity that is 335 miles.
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Another innovative and cutting-edge electrification goals are intended to come from Volkswagen (VW). The industry giant is not just planning to pump out millions of cars but also plans to be a stepping stone in game of electric vehicle batteries. Subsequently, VW has declared that its Group Components unit (in-house supplier) will be a separate and independent corporate entity which will carry “end-to-end” responsibility for the battery, beginning with competence development for the cells up to the recycling of the batteries. This is huge as most of the European auto Industry is sparse of big battery manufacturer which can be considered the downfall of Asian suppliers. Further, VW has declared that it is investing in Forge Nano (California startup) which aims to enhance battery cells efficiency. This is all in direction of honing the company’s profile in the e-mobility field which is possible due to its higher product strength and manufacturing depth.
Another big announcement for VW is that its Group Component is expected to begin production of fast-charging stations for electric vehicles. These stations fundamentals will be based on powerbank, enabling four cars to charge up at once. VW’s shift to e-mobility will offer thousands of jobs in the U.S. German government has taken initiative to support domestic production on battery cells by offering more than $1 billion and there is high possibility of Volkswagen to be important part of this initiative.
Silicon’s importance in electric vehicle batteries is well established now. But, 24M is coming forward with “semisolid” lithium-ion batteries which is expected to leapfrog other competitors in terms of energy density. With higher energy density, comes lesser cost, lesser weight, higher longevity and promising EVs without range anxiety or sticker shock.
Across the globe, registered sale of electric vehicle in 2016 was more than 500,000, a figure that is expected to jump sevenfold by 2022, according to the U.S. Energy Information Administration. The factor that may restrict a customer from buying these electric vehicles is its over-price and confined driving range that doesn’t covers more than hundred miles (kilometers) when charged once. To iron out these issues, adoption of Silicon for EV batteries will boost energy storage. Silicon’s distinctive characteristic like higher energy density can act as better anodes in batteries. Besides that, Silicon is capable to cut the cost per kilowatt hour in EVs by 30 percent.
California-based Sila Nanotechnologies is targeting to have its own technology which uses Silicon as anodes in more than a million EV batteries. The company was born in a laboratory of Georgia Institute of Technology. The company claims the development of a technology that is able to fully replace graphite, facilitating higher ranger and boosted capacity. Amperex Technology Limited (300750.SZ) and BMW AG (BMWG.DE) are world’s largest battery producers. Sila counts both of them as key customers and aim to target its silicon products for both these companies. They eye on to being the first vehicle of 2023 with highest gigawatt hours of capacity.
Get the access of more information through our Blog, White Paper and Case Study:
1. Blog on “Electric Vehicle Batteries: Significant types of batteries used in EVs individually”
Electric cars such as Tesla S, Tesla X, Chevy Bolt, Tesla Model 3, and more others has a standard bearer for electric vehicles. Moreover, these cars require an extra powerful batteries as compared to any other electric vehicles that can hold a charge for a long period of time and deliver sufficient acceleration. The batteries for electric cars has given liberty to provide a large size battery and horsepower to avoid low performance rate.
2. White Paper on “Shortage Of Lithium-ion Batteries And Cobalt And Rising Concerns”
It has been revealed that, lithium-ion battery prices are falling down to 14% per year, and it has also anticipated that the fall will remain the same for a longer run. Standard curve effect found that around 6% to 9% of lithium-ion battery will witness a reduction in price for every repetition of a production volume.
3. Case Study on “Tesla Motors And Its Disruptive Innovations”
With limited supply of petroleum available in the market, electric vehicles are becoming a necessity and anticipated to be the future of transportation. Providing batteries to electric vehicles and power them is one of the most crucial aspects of an electric vehicle’s engineering.
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