Entity Warns Of Up To 40% Increase In Electric Car Batteries Due To Raw Materials

Written by Valdemar Medeiros

Published on 19/04/2022 at 10:55

Updated on 19/04/2022 at 16:17

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Entities Project a 40% Increase in Electric Car Batteries Between 2024 and 2025 and a 100% Production Cost Increase for Solid-State Batteries, Which Are Already More Expensive

The rise in commodity prices is a reality in the country, seen every day. The effects are already impacting wallets due to various essential items, even affecting the electric car battery. Now, alongside the warnings issued in recent months, the Korean research institute SNE Research has joined in. The numbers reported last Friday (16) are not pleasant, as they highlight significant price increases, according to the Korean industry, varying from 30% to 40% higher than the $150 per kWh from last year. The pressing question is: when will we observe the impact of this increase on batteries? And the answer is simple: between 2024 or 2025, according to SNE data.

Solid-State Batteries for Electric Cars Will Also See Increases

According to SNE’s executive vice president, James Oh, during a recent seminar in Seoul, the company met with cell manufacturers in Korea, leading them to change their outlook for the prices of used electric car batteries.

The expectation, according to the Koreans, is that this component will increase in 2024 or 2025. The companies did not go into detail regarding the numbers, but it is worth mentioning that, according to the forecasts, the increase will reach 40%.

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Possible Solutions for the Increase in Electric Car Batteries

Solid-state batteries are based on sulfide electrolytes and are extremely expensive compared to other types, as they require a lot of lithium. The prices of sulfide electrolytes could double compared to last year.

Once the problems are understood, it is necessary to analyze them to find possible solutions. James revealed that electric car manufacturers are pressuring their partners in Korea to produce more prismatic cells instead of pouch cells and to establish new long-term contracts.

Elon Musk Comments on the Increase in Lithium

Billionaire Elon Musk recently posted on one of his social media accounts about his interest in entering the mining sector, mainly lithium extraction, to maintain the metal supply needed for electric car battery production.

Musk states that the price of the raw material is out of control, to the point that the company may have to enter the mining and refining segment. There is no shortage of lithium, as it is found almost everywhere on the planet, but the pace of extraction and refining is slow.

The billionaire’s concern involves one of the essential commodities for the operation of electric cars. The same applies to other materials like copper, cobalt, and nickel, all essential, especially in a scenario where electricity is proposed as the sole alternative to oil.

The entrepreneur is betting that the purchase of battery-powered vehicles will expand greatly in the near future, and the proof of this lies in the official openings of two new factories for his automaker, one in Berlin to supply the European market, and another in Austin, Texas.

Entity Warns Of Up To 40% Increase In Electric Car Batteries Due To Raw Materials

Entities Project a 40% Increase in Electric Car Batteries Between 2024 and 2025 and a 100% Production Cost Increase for Solid-State Batteries, Which Are Already More Expensive

Solid-State Batteries for Electric Cars Will Also See Increases

Possible Solutions for the Increase in Electric Car Batteries

Elon Musk Comments on the Increase in Lithium

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Entity Warns Of Up To 40% Increase In Electric Car Batteries Due To Raw Materials

Entities Project a 40% Increase in Electric Car Batteries Between 2024 and 2025 and a 100% Production Cost Increase for Solid-State Batteries, Which Are Already More Expensive

Solid-State Batteries for Electric Cars Will Also See Increases

Possible Solutions for the Increase in Electric Car Batteries

Elon Musk Comments on the Increase in Lithium

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An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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