Not only are more and more tech giants keen to join the race and revolutionize battery technology such as Apple and Toyota, but battery prices have sunk to their lowest level. The future of our industry is looking promising.
Despite the unsuccessful attempt with Project Titan, Apple are moving forwards to develop a self-driving EV for the mass market, including their very own battery technology by 2024. They plan to use a monocell design which will free up space in the battery pack, providing longer range. They are also testing the LFP chemistry (Lithium iron phosphate) which is safer as it's less likely to cause fire hazards. Read more here
Japanese giant Toyota intend to be the first company to sell an EV car equipped with a solid-state battery. They are planning to reveal a working prototype by early 2021. The technology will enable their EV to charge in less than 10 minutes with 800-1,000km of range. The battery will be applicable not only to EVs but to the entire industry. The new battery is designed to be safer with less risk of catching fire and takes the same amount of physical space as existing EV batteries. Read more here
According to a new report by BloombergNEF, for the first time, the cost of a li-ion battery packs has fallen close to 90% and rates lower than $100/kWh. BloombergNEF claim this will be the average price by 2023. The report also suggests that this is a result of rising order sizes and BEV sales growth. The cost of the cathode materials has also fallen since 2018 which helped profit margins. Read more here
QuantumScape, the San Jose-based startup backed by Volkswagen and Bill Gates, announced in their virtual 'battery day' that their solid state batteries for EVs will perform better than traditional EV batteries by charging faster, have higher power and last longer. They estimate that the energy density of their cells will be 50 percent more than in conventional EV batteries. They intend to be ready for production in 2024. “We are thrilled to be chosen by Volkswagen to power this transition. We think the higher range, faster charge times, and inherent safety of QuantumScape’s solid-state technology will be a key enabler for the next generation of electrified powertrains,” said QuantumScape co-founder and CEO Jagdeep Singh. Read more here