Bulgarian cylindrical lithium batteries have the highest cost performance

Are lithium-ion batteries the future of electric vehicles?

Lithium-ion batteries (LiBs) are pivotal in the shift towards electric mobility, having seen an 85 % reduction in production costs over the past decade. However, achieving even more significant cost reductions is vital to making battery electric vehicles (BEVs) widespread and competitive with internal combustion engine vehicles (ICEVs).

How is the lithium-ion battery market changing?

The market for lithium-ion battery materials is rapidly evolving worldwide. What the USA and the EU are doing to counter China’s dominance and why overcapacity does not necessarily ensure secure supply chains.

What is the global demand for lithium-ion batteries (LFP)?

The global demand for LFP is not limited to the electric vehicle market but is also attributed to stationary energy storage applications. In recent years, China has taken a leading role in the production of key materials for lithium-ion batteries including anodes, cathodes, electrolytes and separators.

Is China a key player in the battery materials market?

Figure 1 illustrates China’s percentage share of global battery materials production over the years. Although China’s market share may decrease in the coming years due to increased investments from the USA and the EU, the country is likely to maintain its position as a key player in the battery materials market.