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Bostock",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Editor - Energy Transition & Economics",{"filename":572},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":576,"content":577},"doc",[578,603,615,636,641,648,661,666,671,692,697,709,714,719,727,748,753,774,793,798,808,816,821,834,839,852,857],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582,585,593,595,601],{"text":583,"type":584},"In 2024, companies developing new battery technologies began transitioning from ","text",{"text":586,"type":584,"marks":587},"development to commercial deployment",[588],{"type":589,"attrs":590},"link",{"href":591,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/solid-state-battery-industry-gears-up-for-automotive-qualification-2023-in-review?_branch_match_id=1544411312266840445&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvW9zIuDDZxNHQsDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAdefEX0gAAAA%3D","url",{"text":594,"type":584}," in earnest across the world, ",{"text":596,"type":584,"marks":597},"especially in China",[598],{"type":589,"attrs":599},{"href":600,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/where-is-chinas-solid-state-battery-industry-developing?_branch_match_id=1544411392018775540&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvW9%2FVwLsn0CHMsDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAkdx2L0gAAAA%3D",{"text":602,"type":584},".",{"type":579,"attrs":604,"content":605},{"textAlign":49},[606,608,614],{"text":607,"type":584},"Production of solid-state and sodium ion cells has exceeded demand in 2024 and in the near term, as producers ramp up facilities in anticipation of demand growth in the mid- to long-term, according to ",{"text":609,"type":584,"marks":610},"Benchmark Forecasts",[611],{"type":589,"attrs":612},{"href":613,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://www.benchmarkminerals.com/sodium-ion-batteries/data-reports/forecast",{"text":602,"type":584},{"type":579,"attrs":616,"content":617},{"textAlign":49},[618,620,626,628,634],{"text":619,"type":584},"“The ",{"text":621,"type":584,"marks":622},"training wheels came off in 2024",[623],{"type":589,"attrs":624},{"href":625,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/is-2024-the-year-of-solid-state-battery-powered-evs?_branch_match_id=1544411327885778511&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWLyv08zaNNHAsDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUARGeNjEgAAAA%3D",{"text":627,"type":584},", and the strengths and weaknesses of practical cells are now being put to the test on the world stage,” said ",{"text":629,"type":584,"marks":630},"Rory McNulty",[631],{"type":589,"attrs":632},{"href":633,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/video/watch/scale-up-approaches-for-solid-state-battery-development",{"text":635,"type":584},", product director for new technology at Benchmark. “Over the next 2 years, we will see some technologies fail and others rise as the leaders of the next-generation of battery technology.” ",{"type":579,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":584},"Between 2023 and 2024, supply of new technologies is set to grow apace, with Benchmark forecasting production growth of:",{"type":642,"attrs":643,"content":645},"heading",{"level":644,"textAlign":49},4,[646],{"text":647,"type":584},"How is China pushing ahead with new battery technologies?",{"type":579,"attrs":649,"content":650},{"textAlign":49},[651,653,659],{"text":652,"type":584},"China firmly showed its commitment to solid-state batteries through the launch of the ",{"text":654,"type":584,"marks":655},"China All Solid-state Collaborative Innovation Platform",[656],{"type":589,"attrs":657},{"href":658,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/chinas-battery-industry-unites-in-effort-to-extend-dominance-to-solid-state?_branch_match_id=1544411304033421375&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWd690KbDMDncsDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAhziMIEgAAAA%3D",{"text":660,"type":584}," (CASIP) at the start of 2024 alongside more than $830 million of government funding.",{"type":579,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":584},"This has spurred incumbent cell producers in the country to develop roadmaps for deploying next-generation solid-state batteries with lithium metal or high-silicon content anodes.",{"type":579,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":584},"“These timelines broadly land around 2027 for demonstration vehicles, meaning cells are currently undergoing qualification, and 2030 for subsequent large-scale commercial production,” McNulty said.",{"type":579,"attrs":672,"content":673},{"textAlign":49},[674,676,682,684,690],{"text":675,"type":584},"Incumbent Chinese lithium ion producers have also made major moves in the ",{"text":677,"type":584,"marks":678},"commercialisation of sodium ion batteries",[679],{"type":589,"attrs":680},{"href":681,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/video/watch/chinas-dominance-of-the-sodium-ion-battery-market?_branch_match_id=1544411346290948153&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWTy8PzCiNMHMsDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUA9ebZAUgAAAA%3D",{"text":683,"type":584},". BYD’s subsidiary FinDreams broke ground on its 30 gigawatt-hour sodium ion gigafactory in China at the start of the year, whilst ",{"text":685,"type":584,"marks":686},"CATL launched a hybrid battery with both lithium ion and sodium ion cells",[687],{"type":589,"attrs":688},{"href":689,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/catl-releases-freevoy-lithium-sodium-ion-hybrid-battery?_branch_match_id=1544411399245413359&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvW9y%2BzDI6MNHUsDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAPbFb%2FEgAAAA%3D",{"text":691,"type":584}," for use in hybrid electric vehicles.",{"type":579,"attrs":693,"content":694},{"textAlign":49},[695],{"text":696,"type":584},"In terms of production, China currently leads in terms of commercial manufacturing ramp-up of many battery technologies, though other regions have also made significant progress in ramping production of next-generation cells for qualification.",{"type":698,"attrs":699},"blok",{"id":700,"body":701},"b4f101f5-c859-42be-b310-e0954b2f716a",[702],{"id":703,"_uid":704,"type":705,"_editable":706,"component":707,"fixed_height":708,"use_fixed_height":50,"fixed_height_mobile":708,"fixed_height_tablet":708},"20835984","i-0f691acb-337d-489c-a75d-0b5919524ac0","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-0f691acb-337d-489c-a75d-0b5919524ac0\", \"id\": \"\"}-->","ContentFlourish","",{"type":642,"attrs":710,"content":711},{"level":644,"textAlign":49},[712],{"text":713,"type":584},"What is the West doing to develop new technologies and supply chains?",{"type":579,"attrs":715,"content":716},{"textAlign":49},[717],{"text":718,"type":584},"In North America, several solid-state battery developers have entered or progressed along automotive qualification, a process that takes four to six years.",{"type":698,"attrs":720},{"id":721,"body":722},"766e63e3-a0d0-4747-ba62-3cbde4019845",[723],{"id":724,"_uid":725,"type":705,"_editable":726,"component":707,"fixed_height":708,"use_fixed_height":50,"fixed_height_mobile":708,"fixed_height_tablet":708},"20817790","i-6cc75615-8943-4a5a-8e3b-347fa0c3c128","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-6cc75615-8943-4a5a-8e3b-347fa0c3c128\", \"id\": \"\"}-->",{"type":579,"attrs":728,"content":729},{"textAlign":49},[730,732,738,740,746],{"text":731,"type":584},"For silicon anodes the US, especially, has invested in the development of domestic supply chains with ",{"text":733,"type":584,"marks":734},"OneD Battery Sciences",[735],{"type":589,"attrs":736},{"href":737,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/us-silicon-anode-scene-starts-2024-with-a-wave-of-announcements?_branch_match_id=1544411320027987196&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWzzMwzo4ISXYqDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAnRlki0gAAAA%3D",{"text":739,"type":584},", Group14 Technologies and ",{"text":741,"type":584,"marks":742},"Sila Nanotechnologies",[743],{"type":589,"attrs":744},{"href":745,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/sila-nanotechnologies-inks-silane-deal-with-rec-silicon-in-us-anode-hub?_branch_match_id=1544411380264526904&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWL3YsNUkyqfRx9k%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAxhEqUEgAAAA%3D",{"text":747,"type":584}," all making significant announcements relating to the supply or production of silane gas—a key precursor for many next generation silicon anode technologies.",{"type":642,"attrs":749,"content":750},{"level":644,"textAlign":49},[751],{"text":752,"type":584},"What markets are there for new battery technologies beyond EVs?",{"type":579,"attrs":754,"content":755},{"textAlign":49},[756,758,764,766,772],{"text":757,"type":584},"In 2024, with continued ",{"text":759,"type":584,"marks":760},"low lithium raw material",[761],{"type":589,"attrs":762},{"href":763,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/spodumene-prices-soften-to-three-year-low-amid-weak-lithium-chemical-prices?_branch_match_id=1544411387597370857&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAAwXBMQ6AIBAEwB9Bb2IsrMUnGDCn4MFBFpTOtzPjWyt10tqRnD5ZcApCsLEqW4qKQVibZ2M279d3t%2Fygi4Ag9%2BGQeyXMq0dONADCkDwpSAAAAA%3D%3D",{"text":765,"type":584}," and ",{"text":767,"type":584,"marks":768},"lithium ion battery cathode prices",[769],{"type":589,"attrs":770},{"href":771,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/lfp-begins-to-make-inroads-into-europes-lithium-ion-ecosystem?_branch_match_id=1544411336157836835&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWD3FOzQrLN87P9U%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAUG8XiEgAAAA%3D",{"text":773,"type":584},", the cost benefit of sodium ion batteries became less attractive leading to demand destruction.",{"type":579,"attrs":775,"content":776},{"textAlign":49},[777,779,785,787,792],{"text":778,"type":584},"Despite this, 2024 saw several announcements relating to sodium ion batteries in the ",{"text":780,"type":584,"marks":781},"energy storage market",[782],{"type":589,"attrs":783},{"href":784,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/what-role-can-sodium-ion-batteries-play-in-energy-storage?_branch_match_id=1544411363178007767&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWNwop9XPJsnAsDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAuCBF7UgAAAA%3D",{"text":786,"type":584},". Indeed, demand from this segment accounted for over half of the total demand for sodium ion batteries in 2024, according to ",{"text":788,"type":584,"marks":789},"Benchmark’s Sodium ion Battery Forecast",[790],{"type":589,"attrs":791},{"href":613,"uuid":49,"anchor":49,"target":49,"linktype":592},{"text":602,"type":584},{"type":579,"attrs":794,"content":795},{"textAlign":49},[796],{"text":797,"type":584},"In June 2024, an energy storage system utilising sodium ion batteries from Chinese battery maker HiNa Battery came online in China. Towards the end of the year, another Chinese company, Hithium, also unveiled a sodium ion battery cell designed for utility-scale energy storage.",{"type":579,"attrs":799,"content":800},{"textAlign":49},[801,806],{"text":802,"type":584,"marks":803},"Hover over the pie charts for more details",[804],{"type":805},"italic",{"text":807,"type":584},":",{"type":698,"attrs":809},{"id":810,"body":811},"00c83a34-fbda-4b98-a3aa-0ba692d42d50",[812],{"id":813,"_uid":814,"type":705,"_editable":815,"component":707,"fixed_height":708,"use_fixed_height":50,"fixed_height_mobile":708,"fixed_height_tablet":708},"20820159","i-e1fd0f27-83e2-4a0f-bedd-9da9290367dc","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-e1fd0f27-83e2-4a0f-bedd-9da9290367dc\", \"id\": \"\"}-->",{"type":579,"attrs":817,"content":818},{"textAlign":49},[819],{"text":820,"type":584},"Demand beyond the EV segment was also seen for other new battery technologies in 2024.",{"type":579,"attrs":822,"content":823},{"textAlign":49},[824,826,832],{"text":825,"type":584},"For next-generation silicon anodes with high silicon content, the ",{"text":827,"type":584,"marks":828},"portables segment has been a key market",[829],{"type":589,"attrs":830},{"href":831,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/portable-electronics-are-a-key-market-for-silicon-anodes-in-short-term?_branch_match_id=1544411355203008230&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWz680N%2FcwTXQqDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAo7g08UgAAAA%3D",{"text":833,"type":584}," as developers look to prove their technology ahead of pursuing the more lucrative EV market.",{"type":579,"attrs":835,"content":836},{"textAlign":49},[837],{"text":838,"type":584},"For example Group14 announced its 100% silicon anode technology is used in the Honor Magic7 Pro smartphone.",{"type":579,"attrs":840,"content":841},{"textAlign":49},[842,844,850],{"text":843,"type":584},"Lyten, a lithium sulphur and solid-state battery developer, announced a ",{"text":845,"type":584,"marks":846},"$1 billion gigafactory",[847],{"type":589,"attrs":848},{"href":849,"uuid":49,"anchor":49,"target":49,"linktype":592},"https://source.benchmarkminerals.com/article/stellantis-backed-lyten-to-build-1-billion-lithium-sulphur-gigafactory-in-us?_branch_match_id=1544411370990534213&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWT%2FfNCg1OM3AqDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAjx94%2F0gAAAA%3D",{"text":851,"type":584}," in November 2024. This year, the company signed contracts to develop batteries for Aevex—an eVTOL company—and the International Space Station. The company also recently secured a loan of $650 from the US export-import bank.",{"type":642,"attrs":853,"content":854},{"level":644,"textAlign":49},[855],{"text":856,"type":584},"What are the trends to watch out for in 2025?",{"type":579,"attrs":858,"content":859},{"textAlign":49},[860],{"text":861,"type":584},"“Increased trade tensions could incentivise the US to invest in emerging battery technologies that rely on domestic supply chains,” said Catherine Peake, a sodium ion battery analyst at Benchmark.","In 2024, companies developing new battery technologies began transitioning from development to commercial deployment in earnest across the world, especially in China. Production of solid-state and sodium ion cells has exceeded demand in 2024 and in the near term, as producers ramp up facilities in anticipation of demand growth in the mid- to long-term, according […]",[864],{"slug":567,"name":568,"content":865},{"job_title":570,"image":866,"bio":573,"linkedin":574},{"filename":572},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"62c2a3f0-82fb-45cf-a4b3-4ec77609ccb1\", \"id\": \"\"}-->","article",[870,873,876],{"slug":871,"name":872},"batteries","Batteries",{"slug":874,"name":875},"battery-technology","Battery Technology",{"slug":877,"name":878},"silicon-anode","Silicon Anode","private",{"id":49,"alt":708,"name":708,"focus":708,"title":708,"source":708,"filename":881,"copyright":708,"fieldtype":882,"meta_data":883,"is_external_url":51},"https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1734691255/www-production/New-Tech-by-region-2024@2x-1/New-Tech-by-region-2024@2x-1.png?_i=AA","asset",{"alt":708,"title":708,"source":708,"copyright":708},{"id":49,"alt":708,"name":708,"focus":708,"title":708,"source":708,"filename":885,"copyright":708,"fieldtype":882,"meta_data":886,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/be131afbd3/bm-qs-lab-2021-6-scaled-1.jpg",{"alt":708,"title":708,"source":708,"copyright":708},"Dec 24, 2024","24th December 2024",[],[],1780932587182]