The rapid development of battery technology is expected to accelerate the pace of global energy transformation and solve the "climate crisis" of mankind. In the first half of 2019 alone, the investment in battery technology will exceed US $1.4 billion, and the large investment in battery manufacturing and the steady development of technology are likely to make us see great changes in the way of organizing energy systems before 2030.

According to the evidence detailed in the "breakthrough batteries" report of the Rocky Mountain Institute (RMI), the cost reduction and performance improvement of batteries soon exceeded expectations. Due to the increasing demand for electric vehicles (EV), microgrid grid connected energy storage and other emerging applications, the cycle of investment and cost reduction is further aggravated, and the foundation for large-scale mass production and use is laid.

Development schedule of electric vehicle lithium battery market

By 2023, the total investment in the battery manufacturing industry that has implemented the neutralization plan is about 150 billion US dollars. Analysts expect the hard cost of the new planned battery manufacturing capacity to fall by more than half from 2018 to 2023. This allows batteries to quickly open new markets, and the demand for performance and cost improvements pushes Li ion and new battery technologies to the limits of competition, faster than expected.