EV Battery Technology: Investing in It is Clever and Profitable

The world of batteries is changing fast, and the ever-growing competition ensures that more and more experts enter this arena. Read on to know more about how the EV battery technology is changing for good.

The Newest Innovation

One of the newest innovations that can make flat batteries a thing of the past is the lithium-ion battery nanotechnology developed by The University of Queensland. This technology is good news because it more than doubles the lifespan of high-voltage Li-ion batteries.

The team from the School of Chemical Engineering and the Australian Institute for Bioengineering and Nanotechnology (AIBN) have shared a battery that remains stable for over 1000 charge/discharge cycles.

Talking about the innovation, Lead professor Lianzhou Wang said, "Our process will increase the lifespan of batteries in many things from smartphones and laptops, to power tools and electric vehicles. We've designed a uniquely-grown atomic-thin functional layer on the surface of a high-voltage cathode, which is the source of lithium ions and a critical aspect that limits the cycle life in a battery. Corrosion in one form or another is the reason that batteries degrade over time. This new approach features a minimal protective coating at a scalable process, paving the way for the deployment of these abundant high-voltage materials for next-generation high energy batteries."

The professor also said that the development of lithium-ion batteries with lower cost, higher energy density, and longer cycle life was vital. He stated, "We're confident the nanotechnology will have widespread applications across industry, including in consumer electronics, electric vehicles, and the energy storage sector."

Battery Technology Race

It is a fact that the battery technology race isn't just about electric cars, as the batteries power everything from laptops to smartphones and even the power drills. Still, according to Wood Mackenzie, an energy research and consultancy firm, car companies are leading this race because EVs make up 80% of lithium-ion battery demand.

WoodMac says that lithium-ion battery supply fell short of demand in 2021, and prices of battery raw materials also jumped. The situation intensified in 2022. As EV batteries are costly to ship, companies want to reduce transportation costs and decrease geopolitical risk.

The Future is Crystal Clear

As major car manufacturers want about half their vehicle sales to consist of electric vehicles by 2030, the demand for simpler, cheaper, and better batteries will only rise.

So, battery technology companies need to make the most of the opportunity and ensure that car companies seeking to invest in new battery plants get headed in the right direction.

For now, electric cars will likely continue to run on lithium-ion or LFP battery cells. As a result, the costs will likely spur shifts back and forth.

Though some battery technology breakthroughs like solid-state cells are not expected anytime soon (maybe they will take a decade), promising options like sodium-ion batteries are closer at hand.

Companies investing in battery technology are doing a smart thing. In the words of Marius Foss, a Rystad analyst, "The importance of these investments cannot be overstated."






Previous Post Next Post