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EV Battery Demand Dwarfs
Capacity |
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Date: 2012-09-04 |
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There is an alarming gap between
the current production
capabilities for key battery
materials and projected needs of
the global automotive industry.
The specialty chemical industry
lacks the capital and
engineering resources needed to
build and operate plants with
enough capacity to serve the
automotive industry¨s needs over
the next ten years unless
significant new lower-cost,
industrially-scalable production
technologies are introduced
soon.
The total global market for
lithium-ion batteries today is
about US$10bn, almost all of
which are small batteries for
consumer handheld devices such
as cell phones and laptops.
Forecasted introduction of
electric vehicles by the
automotive industry will create
demand for an additional US$70bn
of lithium-ion batteries per
year by 2020. |
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