KrASIA’s Morning Briefing is a closed-door presentation that delves into a different industry every 1st and 3rd Tuesday of the month. Register here for the upcoming episode on Electric Vehicle Battery, 6 April, 9 – 9.30am (GMT +8).
Why batteries?
Innovation in battery technology is fuelled by the global consensus for a renewable-fueled world — sophisticated energy storage is a key aspect in the fight against climate change. Given the sheer demand, the automotive industry’s move towards electric vehicles is but the first concrete, commercial step towards such a seismic shift. With almost every automaker in the world betting on electric vehicles as the industry’s future, it’s no surprise that the industry is touted to be worth more than USD 802 billion by 2027. And China, as a country, has shown a hefty appetite for this class of vehicle, accounting for 47% of the 7.2 million electric vehicles on the road in 2019.
An uphill climb — what’s going right, what’s going wrong?
The battery industry has made much progress in recent years, with the global size of EV battery installation in 2020 recorded as 137 Gigawatt hours (GWh). Yet there are still much room from improvement in current iterations of LFP (lithium iron phosphate) batteries and battery manufacturers are still far from producing the ‘holy-grail’ solid-state batteries. Tinkering with a battery’s chemistry to find the right balance between safety, efficiency, and commercial viability is undeniably an uphill climb.
Industry leader: CATL
Contemporary Amperex Technology Co., Limited, better known as CATL, is one of the world’s leading EV battery makers. Counting the likes of Tesla, Honda, Mercedes-Benz and Nio as partners, the company’s net profit grew by USD 211 million (4.2% YoY growth) in Q3 2020. To become the domestic industry leader, and one of the leading manufacturers globally, in a span of 10 years is no easy feat. However, will CATL be able to maintain its lead?
In this episode of Morning Briefing
In this episode of Morning Briefing, we’ll shed light on why EV batteries are so technically difficult to get right, the challenges Chinese battery manufacturers face as well as the solutions that are currently employed and in development. In the case study segment, we’ll dive into the history and successes of CATL, examining the factors that contributed to its current success. On the flipside, we also highlight the kind of competition it stands to face in the upcoming years and examine how the company’s strategic investment comes into play.
Register for the Zoom webinar for March 16, 9 am now!
To learn more about Morning Briefing, visit our event page.