Benchmark Mineral Intelligence, a provider of data and market information on the lithium industry, predicts that global lithium-ion battery production capacity could reach over 6000 gigawatt-hours (6 terawatt-hours) by 2030.

Automakers and battery suppliers are rushing to establish new battery manufacturing facilities around the world (thanks to Tesla, these are now invariably referred to as gigafactories). Total lithium-ion capacity (existing or under construction) has doubled since the beginning of 2021, following announcements of new plants by Chinese and Korean battery producers.

Automakers are looking to secure local supply chains to lower costs and reduce geopolitical risks. While China still dominates global battery production, announcements of new North American and European battery cell plants are accelerating, says Benchmark. North America’s share of global battery capacity is poised to grow from the current 6% to 10% by 2026, while Europe’s capacity is on track to increase from 7% to 12%.

The forecast 6 terawatt-hours of annual battery capacity translates to around 109 million E.V.s, but that’s assuming that all the planned plants will make it to full production. Benchmark Chief Executive Simon Moores injects a dose of reality, predicting that only some 70% of the gigafactories in the current pipeline will come into production, with an average capacity utilization of 70%.

Source: Re-posted and Summarized from Charles Morris at evannex.

My Take: If Elon is going to change the world, we are going to need all those batteries.

Re Posted From: Battery Production Could Reach 6 TWh By 2030

Auto Helpers

Benchmark Mineral Intelligence, a provider of data and market information on the lithium industry, predicts that global lithium-ion battery production capacity could reach over 6000 gigawatt-hours (6 terawatt-hours) by 2030.

Automakers and battery suppliers are rushing to establish new battery manufacturing facilities around the world (thanks to Tesla, these are now invariably referred to as gigafactories). Total lithium-ion capacity (existing or under construction) has doubled since the beginning of 2021, following announcements of new plants by Chinese and Korean battery producers.

Automakers are looking to secure local supply chains to lower costs and reduce geopolitical risks. While China still dominates global battery production, announcements of new North American and European battery cell plants are accelerating, says Benchmark. North America’s share of global battery capacity is poised to grow from the current 6% to 10% by 2026, while Europe’s capacity is on track to increase from 7% to 12%.

The forecast 6 terawatt-hours of annual battery capacity translates to around 109 million E.V.s, but that’s assuming that all the planned plants will make it to full production. Benchmark Chief Executive Simon Moores injects a dose of reality, predicting that only some 70% of the gigafactories in the current pipeline will come into production, with an average capacity utilization of 70%.

Source: Re-posted and Summarized from Charles Morris at evannex.

My Take: If Elon is going to change the world, we are going to need all those batteries.

Re Posted From: Battery Production Could Reach 6 TWh By 2030

Auto Helpers