Nickel : quest for glory, page-18

Novonix and others have patents and initial production of cathodes and anodes that result in greater efficiency. Greater efficiency results in either more power out of same battery or same power out of fewer/smaller batteries.
So by creating superior Electrodes and even electrolytes you can end up with more power, or longer lasting battery with the same number of batteries or same quantity of other materials.
The whole million mile battery some what hinges on Electrode developments.

Still forecasts for Nickel demand is like 5x over next decade.