Battery technology: advancements and emerging alternatives

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🗞️ Driving the news: The EV battery technology continues to evolve, with a shift from nickel-based Li-ion batteries to lithium iron phosphate (LFP) batteries and the emergence of sodium-ion (Na-ion) batteries
• Nickel-based Li-ion batteries provide excellent energy density, their high cost and ethical issues due to cobalt and lithium usage pose challenges
• China-made LFP batteries are affordable and devoid of scarcity and ethical dilemmas tied to nickel and cobalt, presenting a compelling alternative

🔭 The context: In 2022, nickel-based NMC batteries dominated the market with a 60% share, followed by LFP batteries at 30%, and NCA batteries at 8%
• However, increasing costs, scarcity, and ethical concerns associated with nickel and cobalt have led to a resurgence of LFP batteries and the rise of Na-ion batteries

🌎 Why it matters for the planet: The shift to LFP and Na-ion technologies can reduce the cost and environmental impact of EVs, potentially accelerating the transition to cleaner transportation.

⏭️ What's next: As per the IEA, nearly 30 Na-ion battery manufacturing plants are in operation or under development in China, aiming for a combined capacity of over 100 GWh

📈 One stat: By 2025, it is projected that Na-ion deployment in cars will surge, with over 15 GWh of capacity set to be deployed that year

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