Electric vehicle (EV) sales milestones made headlines in 2023. The U.S. experienced a 50% increase in EV sales in 2023, with over 1.4 million sold. Electrification is shifting from luxury to mainstream — a culmination of engineering efforts. The automotive industry and EV supply chains are becoming better integrated. And lithium-ion (Li-ion) batteries are the lifeblood that is driving the decarbonization of modern transportation.
However, their imperfections are also leading experts to explore alternatives to make up for Li-ion’s shortcomings. Among the options are solid-state batteries.
The number of Li-ion manufacturers in North America suggests a capacity of 10 million new cars annually, with packs ranging from 80 kWh to 100 kWh each. The data shows that Li-ion is well adapted from small consumer electronics to large applications. It is everywhere, so how competitive can up-and-coming options, like solid-state batteries, genuinely be?
