![]() ![]() However, such is the industry’s dependency on certain raw materials that a sharp rise in production will significantly increase risks along the supply chain. But things will soon change as a variety of global competitors open European factories in the coming years, including established OEMs (often via joint ventures), battery suppliers as well as European start-ups. With China currently dominating battery cell production, only a handful of manufacturers currently have facilities in Europe. This is changing the production landscape for EV batteries. In China, BEVs are predicted to make up 38% of light vehicle sales in 2030. By 2030, more than half of all light vehicle sales (52%) are expected to be BEVs – almost double that of North America (29%). ![]() While EV adoption is on the rise globally, Europe can expect to see the strongest growth. All in all, we estimate these measures can reduce costs by approximately USD30-40 per KWh. These include increasing the size of modules to reduce the number of modules per pack, and improving manufacturing technology for lower CAPEX and OPEX. This can be supported by larger cell formats and a lower share of non-active materials like cans and current collectors.Īway from cell chemistry and design, there are further ways to reduce costs. The shift towards CAMs with higher nickel content (beyond NCM811) and AAMs with more silicon is expected to boost cell energy density and reduce overall cost per kWh. The largest lever is the improvement of the cell chemistries and design. So how can OEMs and cell manufacturers continue to lower battery costs over the coming years? However, this can only be achieved by further reducing production costs per kWh. The battery market is expected to show 30% CAGR to reach a total annual capacity of more than 3,000 GWh by 2030.
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