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The market is dominated by lithium-ion (Li-ion), although alternatives provide compelling value propositions, some of which are technically superior to Li-ion.
However, if there is a true change in the automotive industry toward electric vehicles, there would be an unprecedented demand for the minerals used to produce the batteries due to the fast growth in battery manufacturing.
It will also have a large effect on the consumer electronics sector because several current battery chemistries overlap with them. As a result, there will be conflicting priorities over the supply of minerals between the two industries, which will lead to friction in the supply chain.
The ideal winning EV battery chemistry would offer the technological and environmental advantages that EVs can offer while reducing the danger to the mineral supply.
The Malaysia 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.
In order to guarantee the supply of cathode and anode materials, battery startup for electric vehicles (EVs), Britishvolt, has inked a contract with battery materials company Posco Chemical.
A memorandum of understanding between the two businesses, together with ongoing negotiations for a longer-term arrangement, prepares the way for Britishvolt to have a reliable supply of active battery components as we ramp up pilot production.
According to Britishvolt, Posco’s control of mining and processing plants throughout the battery industry would provide a solid, end-to-end supply chain.
Major automakers have been vying for battery cell supply, but a larger challenge may be getting enough raw materials for batteries.
