The battery race is going strong, with the EU fighting to become a more dominant player in the field, car manufacturers increasing their demand for better battery technology and growing interest from investors in companies innovating in energy storage. Join our ride - don't lag behind!
On Tuesday (26.01.20), The European Union has approved €2.9 billion in subsidies from 12 member countries for a second European project to develop their electric battery industry to include the entire value chain. The aim is to focus on the development of 'beyond-state-of-the-art lithium-ion batteries as well as on next-generation post-lithium-ion battery technologies.' The funds will support 46 projects in 42 countries and will generate 9 billion euros, in private investment. The EU hope that by 2025 they will have the capacity to manufacture 'enough battery cells each year to power at least 6 million EVs'. Read more here
Sila Nanotechnologies, an engineering materials company aiming to improve energy storage, have raised $590M in series F funding, a round led by Coatue. Following the investment, it's valuation has now been increased to $3.3 billion. Sila Nano have partnerships with Amperex Technology, BMW and Daimler. Their plan is to build a factory in the US 'capable of producing 100 gigawatt-hours of silicon-based anode material, which is used in batteries for the smartphone and automotive industries.' They plan to start production in the factory in 2024.
Read more here
Tesla has announced that all engineering work for the all-electric Tesla Semi are now complete with only one challenge limiting their plans for production; the availability of battery cells. “The main reason we have not accelerated new products – like for example Tesla Semi – is that we simply don’t have enough cells for it,” Musk said. They do expect to have the right cells when they begin the production of their 4680 battery pack, their new custom cell design. Read more here
According to BloombergNEF, the U.S. are lagging far behind in the battery race when compared with China or Europe. Despite the few factories planned (including Tesla's Texas plant), they expect the U.S. share of worldwide battery production to fall from it's current 8% to 6% by 2025 despite having all 'the right ingredients'; raw materials, demand and the development of grid infrastructure. Danny Kennedy, the chief energy officer of New Energy Nexus said that “It seems insane that the largest economy in the world should not be a participant in this... we could be the champion of that future if we engage in it now and don’t give it away.” Read more here