WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 67
Building a better battery
Huge resources are currently devoted to designing better batteries.
The rewards for finding batteries with longer lives, greater energy
density, and cheaper production costs are huge.
LFP is the technology currently used by Tesla and BYD accounting for
over 30% of EV usage. The LMFP battery seeks to improve LFP energy
density and usable cycle performance by introducing manganese.
Both LFP and LMFP rely on a liquid electrolyte between the cathode
and diode, replacing this with a solid electrolyte promised further
increases in performance and reductions in cost.
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There has been hope that a re-established technology lead will
counter China’s dominance of the battery industry. However, new
battery developments historically take near-decade timescales to
reach volume industrialization. Many of the newer technologies may
not deliver the cost benefits hoped for in the next decade. In the
meantime, Chinese dominance continues unbridled.
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The Business case for
batteries needs to be clearer
Proving new battery developments will take time and battery
adoption is likely to rely on existing technologies for many years.
Limited development capital has been deployed in achieving
improved processes and pricing for finished active materials. This
has led to a slowdown in European and American efforts to enhance
process efficiency and supply chain development for existing proven
materials, which are often sufficient for most applications, such as
low-cost LFP in affordable EVs and stationary energy storage.
WEMO 2024
Battery development and industrialization programs have primarily
focused on the next big leap in energy density and chemistry or solidstate technology. However, they have also overlooked the need to
achieve better price points for existing materials and techniques.
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