Report: 2025 global lithium battery demand reaches 500 watt hours

According to the latest report released by the well-known research institute BenchmarkMineralIntelligence, the number of lithium battery plants under construction in the world is growing rapidly. The agency said that there are currently 26 battery "super factories" that are either in production or will be in production by 2021.

Benchmark mining intelligence borrows the term “super factory” to describe a plant that produces more than 10 gigawatt hours of capacity in a year. In contrast, only three such plants were planned or put into production in 2014. It is worth noting that not all of these planned factories will eventually be put into production.

"The situation has changed, but the truth is that every player who joins is extremely serious." Benchmark mining intelligence said.

The number of lithium battery factories will be greatly increased by the demand for electric vehicles. Sales of electric vehicles are expected to surge around 2022 or 2023. Several manufacturers are planning to release several electric vehicle models in the next few years.

Benchmark mining intelligence estimates that by 2025, global lithium battery demand will reach 100 million to 500 watt hours, compared to 85 years in 2016. 49% of the estimated production capacity will be in China, and environmental pollution issues have driven the development of China's electric vehicle market. The EU ranked second with 23% of the total plan, and the United States ranked third with 15%. Sla plans to expand its super factory in Nevada with a final capacity of 100 to 150 watt hours.

Benchmark mining intelligence pointed out that the establishment of a battery factory is only one of the challenges. The biggest challenge is to obtain raw materials for the production of lithium batteries. For example, China controls 80% of cobalt, which is a key raw material for lithium batteries.

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