Battery Technology & Alternative Innovations

Today, 60% of electric vehicles (EVs) are powered by lithium-ion batteries (LIBs) due to its efficiency, high power-to-weight ratio and flexibility to allow chemical alterations. As the EV industry gains steam, supply chain and design challenges are spurring battery manufacturers to explore alternatives.

Some of the alternative battery technologies include lithium-iron phosphate (LFP), lithium-sulfur battery (LSB) and sodium-ion battery (SIB). Based on their chemical composition, each battery technology offers unique advantages such as low material cost, high energy storage/capacity and longer lifespan. Researchers, battery and auto companies around the world are developing new battery designs and rolling out commercialisation plans to utilise these alternatives in new EV models.

Besides LFP, LSB and SIB, solid-state batteries (SSBs) are touted as a forerunner for the next-generation battery technology. By using solid electrolytes, SSBs provide higher energy density, faster charging times and increased safety. Chinese automakers are already commercialising the technology, and other major manufacturers such as Renault and Hyundai will follow suit by 2030.

Despite these advancements, the current speed of innovation is not accelerating fast enough to meet the demands of the rapidly growing EV sector. This presents opportunities in areas such as battery design and securing the supply chain locally via vertical integration.

As the world welcomes green mobility, commercialising battery technology will be imperative to drive global EV adoption. Given the increased push for battery development and innovation, we believe that it’s only a matter of time before supply catches up with demand.

English Version

Chinese Version

Japanese Version

Korean Version

German Version

Get your FREE report here.

Look out for the third report from our 5-part e-mobility series: What happens to retired batteries?

Follow us on social media: