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Manufacturers Are Struggling To Supply Electric Vehicles With...

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    Manufacturers Are Struggling To Supply Electric Vehicles With Batteries


    Ariel CohenContributor
    Energy
    I cover energy, security, Europe, Russia/Eurasia & the Middle East


    Global EV sales broke 1.2 million units in 2017 and grew to more than two million units in 2018: an increase of 63% on a year-on-year basis. That may only equal a penetration rate of 2.2% compared to all light duty vehicles worldwide, but with a compound annual growth rate CAGR of 59%, we could see over 70% penetration by 2050.


    Back in February Audi temporarily halted the production of its electric SUV the e-tron, citing ‘battery supply bottlenecks’. It reduced its production to 4,100 EV, some 1,600 short of its 2020 target. This is not an isolated case.
    Jaguar Land Rover is pausing the production of its I-Pace electric SUV as is Mercedes of its EQC due to the unavailability of certain key ingredients for batteries – including lithium and cobalt. Audi and Jaguar both source their batteries from a Polish factory owned by South Korean battery giant LG Chem. Despite an upstream oversupply today, we are now seeing how a crimp in any part of the supply chain can impact the finished product.



    How Electric Vehicle Fleet Size Forecasts Have Changed Over Time
    BLOOMBERG NEW ENERGY FINANCE (BNEF)
    Global electrical vehicle adoption is accelerating at breakneck speeds: world EV production is expected to top 4 million cars this year barred the corona slowdown, reaching 12 million in 2025. Deloitte projected that 2022 will be a tipping point for EV costs, making them cost competitive with their internal combustion engine (ICE) counterparts.

    from Forbes magazine:
    Last edited by Oscar09: 26/03/20
 
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