In the era of electric vehicles, batteries are the heart that determines the performance, longevity, and value of each car.
However, the current battery market is heavily reliant on China. This country accounts for 85% of global battery production and controls approximately 90% of the raw material processing stages. To address this dependence, automakers and startups are working to develop new types of batteries with alternative materials.
Before lithium-ion batteries became popular, hybrid vehicles like the Toyota Prius often used lead-acid or nickel-metal hydride (Ni-MH) batteries. However, these technologies couldn’t meet the demands of modern electric vehicles. Lithium-ion batteries revolutionized the industry with their large capacity, fast charging, and compact size, but they still have limitations: they are heavy, expensive, and sensitive to temperature.
Within the group of lithium-ion batteries, there are two main technologies. NMC (nickel-manganese-cobalt) batteries have high energy density, allowing vehicles to travel longer distances, but they are more expensive due to their dependence on cobalt, a rare material. LFP (lithium-iron-phosphate) batteries are cheaper, safer, but have lower capacity, resulting in shorter ranges compared to NMC batteries.
To reduce costs and dependence on rare materials, many automakers are exploring new solutions. Among them, sodium-ion batteries have emerged as a promising option for being inexpensive, safe, and durable, although their energy density is still low, preventing them from being a complete replacement.
Renault aims to commercialize LNMO batteries by 2028, which are expected to be inexpensive, powerful, and capable of fast charging in under 15 minutes.
Another approach is lithium-sulfur batteries, which are anticipated to have twice the capacity of lithium-ion batteries and do not require cobalt or nickel. However, they are not expected to be available until after 2028.
Additionally, solid-state batteries are considered the “holy grail” of the electric vehicle industry. Unlike traditional batteries that use liquid electrolytes, solid-state batteries employ solid electrolytes, making them safer, lighter, and offering higher energy density. However, this technology still faces challenges in mass production.
The diversity in battery research and development reflects a global effort to reduce costs, increase longevity, and, most importantly, break free from near-total dependence on China. This is not just a technological race but also a critical economic and geopolitical strategy for the automotive industry’s future.
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