From Simon Moores at Benchmark Mineral Intelligence published on...

From Simon Moores at Benchmark Mineral Intelligence published on x / twitter today:


In a lithium ion battery industry that has grown an order of magnitude in 7 years, what has become clear is the basic tailwinds for this technology.

✅ Lithium ion batteries are getting better

Cell chemistries, pack technology, vehicle engineering are all significantly improving to push an EV further than ever before.

✅ Lithium ion batteries are getting lower cost

Now at $85.9/kWh at a cell level - @benchmarkmin weighted average across all lithium ion battery cell chemistries

LFP = $77.9/kwh
NCM = $80.6/kWh
NCA = $89.1/kWh

✅ Lithium ion batteries are abundant

409 gigafactories in the Benchmark pipeline to 2023 = 9, 218GWh

It doesn’t tell the whole supply chain stories - especially the upstream challenges of feeding this megatrend with critical minerals.

But it does explain why the lithium ion battery is here to stay.