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Its high power-to-mass ratio is one of the main factors electric car makers use lithium-ion battery technology. Range is harmed by heavy components because it takes too much energy for the battery to start and stop a bigger vehicle rather than allowing it to go farther on a single charge.
Li-ion batteries also outperform their alternatives at high temperatures and have a high energy density. The high energy density of Li-ion is largely due to its use in the consumer electronics sector.
Li-ion is the favoured technology for consumer devices due to these advantages. However, specialised energy is needed for automotive applications. These goals and the stalling improvement in energy density suggest that new materials may need to be developed or taken into consideration in order to meet the demand for energy.
The price, supply chain, and accessibility of the new materials for non-automotive uses may change or be modified as a result of the Li-ion battery chemical change or modification for EVs.
The Canada EV Chemicals Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
The governments of Canada and Quebec are collaborating with General Motors Co. and POSCO Chemical to construct a new factory in Bécancour, Quebec. For GM’s Ultium batteries, which power electric vehicles like the Chevrolet Silverado EV, GMC HUMMER EV, and Cadillac LYRIQ, the new plant will manufacture cathode active material (CAM).
The firms earlier disclosed plans to establish a joint venture for CAM processing, with POSCO Chemical holding the majority of the shares. The joint venture will start operating the new facility as soon as it is built. Construction of the location will open up chances for growth in the future as GM pursues other possible EV supply chain projects.
