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3 Reasons To Be Bearish On Oil

3 Reasons To Be Bearish On Oil

There are three very good…

MINING.com

MINING.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

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Lithium-Ion Battery Production Set To Quadruple This Decade

The global lithium-ion cell manufacturing capacity pipeline could rise fourfold to reach 1.3 terawatt-hours (TWh) in 2030 compared to 2019, a new report by Wood Mackenzie states.

This total capacity refers to 119 battery manufacturing facilities that are operational, under construction or announced by more than 50 vendors. 

According to the UK-based research firm, Asian manufacturers such as CATL, LG Chem, BYD and SK Innovation are leading in the capacity arms race, followed by emerging European vendors Northvolt and ACC.  

“Manufacturing capacity in Asia Pacific accounts for 80% of the global capacity pipeline. The region will remain as the leader of lithium-ion battery production for the next decade,” Wood Mackenzie senior analyst Mitalee Gupta said.

“Within Asia Pacific, China dominates the pipeline capacity and is expected to double its capacity from 345 gigawatt-hour (GWh) in 2020 to more than 800 GWh by 2030.”

According to Gupta, in addition to local vendors’ rapid expansion in China, foreign manufacturers such as LG Chem, Samsung SDI and SK Innovation have also been adding new lines after they became eligible for subsidies from the Chinese government in 2019.

But competition from Europe is about to get serious. Though currently accounting for only 7% of global capacity, the Old Continent is expected to hit 25% of global pipeline capacity in 2030. 

“Driven by growing demand for batteries for electric vehicles and energy storage, Asian manufacturers are investing heavily in new plants in Europe, for example, CATL’s Erfurt Plant, LG Chem’s Wroclaw Plant, and Samsung SDI’s Goed Plant. Local manufacturers including Northvolt, ACC, have also put forward ambitious plans to scale up in Europe and localize the battery supply chain,” Gupta said. 

By Mining.com

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