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Report: Lithium-Ion Battery Capacity at Five Times Demand
The world's capacity to make lithium-ion batteries for electric and hybrid vehicles is five times actual demand, according to a report by Menahem Anderman, chairman of the Advanced Automotive Battery Conference.
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The world's capacity to make lithium-ion batteries for electric and hybrid vehicles is five times actual demand, according to a report by Menahem Anderman, chairman of the Advanced Automotive Battery Conference.
The conference's 13th annual meeting is set for February in Pasadena, Calif.
Anderman's analysis says worldwide sales of hybrids are meeting production targets, but demand for EVs is well below anticipated production volumes. He says carmakers are responding by sharply reducing their plans for EVs and plug-in output for the next five years.
Those cuts will leave battery makers with years of excess capacity. Yet Anderman expects sharp growth in electrification between 2012 and 2020. His report estimates that global EV sales will jump from 65,000 units to 450,000 units, plug-in sales will surge from 57,000 units to 750,000 units and hybrid sales will expand from 1.8 million to 4.1 million over the period.
The higher volume will boost annual sales to 5.3 million EV, hybrid and plug-ins and expand the lithium-ion battery industry from $1.4 billion to $8.5 billion.
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