Electric vehicles (EVs) have won the confidence of consumers. New EV sales by year-end 2023 are anticipated to see a 35% increase over 2022, signaling a strong market that’s only gaining momentum.1
By now, EV popularity isn’t news. Manufacturers are churning out EV models in segments from light vehicle to commercial industrial, expanding the market with robust options. With more EV trends and applications, the question shifts from vehicle viability to the latest in EV battery innovations that ensure performance and promote sustainability.
Lithium-ion batteries have been the leading rechargeable power technology for EVs. Initial worries over range, power, and charging time had consumers shying away from EV purchases.
However, development of solid state batteries that replace the liquid electrolyte with a solid one enhances energy density, charging times, and safety. Likewise, research-driven advancements in battery management systems, fast-charging technologies such as ports and connectors, and the evolution of smaller, lighter battery packs have bolstered buyer confidence.
One major issue that remains for lithium-ion batteries is the dependence on “transition minerals,” so named because the high-value materials aid in the transition to clean/renewable energy sources. Lithium, cobalt, nickel, manganese, graphite, and copper are all necessary in lithium-ion battery composition — the availability, mining, and relative expense of which present growing problems in production and environmental protection.
On the other hand, up to 95% of raw materials are recoverable from EV batteries. This offsets but doesn’t eliminate the impact of transition mineral dependance.2 Future projections that up to 27% of lithium, 46% of nickel, and 52% of cobalt may be recouped through recycling by 2050 holds promise, but time is of the essence for the EV market and the planet.2
Researchers the world over have taken up the challenge of advancing EV battery innovations. Among the most notable include:
Current, near-term, and future EV battery innovations are more than exciting. They are shaping the competitive landscape within the automotive industry, and opportunities for EV battery suppliers to create value and differentiation.
To that end, working with a toll processor with proven experience in battery powder processing is essential to maximize yield from high-value materials such as lithium, cobalt, nickel, manganese, graphite, and copper.
What’s more, the sophistication of the technologies, equipment, dry box capabilities, and methods used to achieve uniform particulates — and desired EV battery formulations — demand the expertise of a collaborative partner such as CPS.
Learn more about what the future of electric vehicles looks like — and a toll processing partner’s place in it — by downloading our guide, Powder Processing or EV Batteries. Click below for your copy!
SOURCES
1International Energy Agency (IEA), Electric Vehicles: Latest Findings, 2023
2CleanTechnica, Recycling EV Batteries — Jumping In, December 24, 2022