What you’ll learn:
- How battery innovation (e.g., solid-state batteries) may change the landscape in relation to range, lifespan, efficiency, acceleration, and charging-speed capabilities.
- What technologies are being evaluated in the market to improve the energy capacity of batteries?
- Important tests and measurements to evaluate the performance of powertrain and battery components.
The regulatory push to reach net-zero emissions and increased customer preference for electric vehicles (EVs) has resulted in 18 of the 20 largest auto-manufacturing OEMs in the world committing to increase their EV sales and offerings, according to the IEA. With an infusion of upwards of $200 billion of new investments in the next five to 10 years, these OEMs are focusing on three trending areas: electrification and batteries, the connected car, and next-gen autonomous vehicles.
Successfully moving the market to a point where EVs are accessible to everyone will require the ability to quickly evaluate, test, and analyze components and systems from the lab to the field during the design process.
These trends, the innovations around them, and their unique testing challenges and solutions are what will “drive” the market into the future. Everything from how automakers are structured, financed, and go to market was optimized around the traditional internal combustion engine (ICE). But this competence is shifting, and automakers are transitioning from ICEs to powertrain and batteries. The century-long reign of the ICE powertrain has an expiration date now.
Of these three key areas, a number of emerging innovations and market trends are focused on solving some of today’s lithium-ion battery challenges. Battery demand has gone through the roof as customers have embraced EVs.
According to McKinsey, the battery market is estimated to grow at about 30% (CAGR) between now and 2030, reaching about 4,000-GWh capacity, which is equivalent to about 90 additional gigafactories.Today, China is responsible for the lion’s share of production for lithium-ion batteries (see figure). However, battery innovation such as the solid-state battery may change this landscape.
Read more: Automotive Industry Accelerates to an Electrified Future