The continuous rise in the adoption of electric vehicles due to the COVID-19 pandemic and the high fuel prices has increased the need for new technology development across the electric vehicle battery market. A startup EV battery manufacturer QuantumScape, funded by the likes of Volkswagen, has raised USD 1.5 billion intending to manufacture low-cost batteries that could lead to electric vehicles with significantly longer ranges, are safer to operate, boast longer lifespans and support faster charging. Rather than using the industry-standard mixed-metal cathode as the separator, QuantumScape has developed a solid ceramic separator. The battery is manufactured without the anode and the electrolyte making it more compact, more energy-dense, and safer to operate. When the battery is charged and discharged, the lithium metal moves through the separator and creates a thin layer of a lithium-metal anode. By using this battery, an electric vehicle could charge to 80% of capacity in 15 minutes compared to the conventional hour-long charging times.
Another EV battery manufacturer OneD Battery Sciences has created SINANODE, which integrates into existing manufacturing processes, tripling the energy density of the anode while reducing its cost per kWh by half. The higher energy density increases battery range while nanowires reduce the charging time. Leading graphite suppliers, battery and electric vehicle manufactures in the U.S., Europe, and Asia, have tested SINANODE by applying the technology to commercial EV-grade graphite used in the anodes of EV batteries. SINANODE was developed with commercial manufacturing CVD equipment available from multiple vendors, using only silane and nitrogen gases. This reduces the investments and time necessary to scale up the SINANODE step to EV quantities, while decreasing the cost of EV anodes by almost 50%, compared to the cost of most of the anodes used in EV batteries today.
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EV battery suppliers are collaborating with regional players to benefit from their knowledge of the local market, and maintain high profit margins, low overhead costs, and their overall competitiveness in the market
The EV battery market features a highly fragmented competitive landscape and several small players are entering the market
Suppliers widely prefer approved provider operating models to reduce risks and improve the potential for value creation
Grand View Research has identified the following key cost components for EV Battery manufacturing:
SG&A Overheads and R&D
Raw material cost, the major cost component of an EV battery, accounts for more than 60% of the total cost of manufacturing.
LG Chem Ltd.
BYD Company Ltd.
GS Yuasa International Ltd.
Hitachi Chemical Co., Ltd.
Crown Battery Manufacturing
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