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battery megafactories are coming","the-battery-megafactories-are-coming","article/the-battery-megafactories-are-coming",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":630,"featured":50,"reporter":631,"_editable":635,"component":636,"seo_title":553,"categories":637,"visibility":647,"author_company":648,"featured_image":649,"seo_description":630,"author_full_name":648,"author_job_title":648,"formattedDate":652,"formattedArticleDate":653},"fbf5c396-a7b0-4e45-a3e3-3d37f8ac4a04","2016-04-03 00:00",[],[561],{"slug":562,"name":563,"content":564},"didi-bostock","Didi Bostock",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Editor - Energy Transition & Economics",{"filename":567},"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":571,"content":572},"doc",[573,580,585,590,595,600,605,610,615,620,625],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577],{"text":578,"type":579},"Tesla Motors, LG Chem, Boston Power and Foxconn are building battery super-plants that will come on-stream in the next three years. The new supply could revolutionise how we source and use energy, creating a once-in-a-century disruptive event.","text",{"type":574,"attrs":581,"content":582},{"textAlign":49},[583],{"text":584,"type":579},"A global race is on to build the world’s biggest battery plant. For what would have sounded like fantasy only a year ago, some of the world’s major corporations are now vying to become the next leading producer of lithium-ion batteries.",{"type":574,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":579},"Tesla Motors Inc sparked furore with its Gigafactory plan to double the world’s capacity. But subsequent plans of LG Chem Ltd, Boston-Power Inc and Foxconn Technology Group have turned it into a case of when and not if a new scale of battery plant enters production.",{"type":574,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":579},"All three companies are eyeing rapid growth in electric vehicle (EV) and utility industries as justification for their grand plans.",{"type":574,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":579},"It is a trend that rapidly gathered pace in 2014 and one that will see the world’s battery capacity rise by over 150% by 2020. Last year, the world produced 35GWh worth of battery cells, but the three megafactory projects alone will add a further 57GWh.",{"type":574,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":579},"Tesla is planning to build what will be the world’s biggest battery plant in Nevada, USA, a project it has branded the Gigafactory. It is expected cost up to $5bn and produce enough to power 500,000 EVs.",{"type":574,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":579},"Phase one will supply batteries for at least 100,000 EVs and is set to be completed by December 2015, a year ahead of schedule.",{"type":574,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":579},"Meanwhile, China is the focus for LG Chem and Foxconn which are planning to build super-plants, Benchmark Mineral Intelligence estimates could bring a further combined capacity of 22 GWh. LG Chem has already broken ground on its lithium-ion facility in Nanjing while Foxconn’s Anhui facility is awaiting final board approval as of Q1 2015.",{"type":574,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":579},"It is also important to note these projects are not the only new supply planned with battery leaders such as Samsung SDI also opening new plants and seeking expansions of existing operations.",{"type":574,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":579},"In August 2014, for example, the company broke ground on a new EV battery plant in Xi’an, Shanxi province, China which will start operations in October 2015 and produce lithium-ion batteries for 40,000 vehicles.",{"type":574,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":579},"The new supply will add momentum to already falling production costs. The cost of lithium-ion batteries has fallen by 14% a year on average over the last 15 years to today’s level of $250/kWh. But with megafactory economies of scale this is forecast to drop to $150/kWh by 2017 and $100/KWh within five years. Many believe this will drive down the cost of EVs and spark mass uptake.","Tesla Motors, LG Chem, Boston Power and Foxconn are building battery super-plants that will come on-stream in the next three years. The new supply could revolutionise how we source and use energy, creating a once-in-a-century disruptive event",[632],{"slug":562,"name":563,"content":633},{"job_title":565,"image":634,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"fbf5c396-a7b0-4e45-a3e3-3d37f8ac4a04\", \"id\": \"\"}-->","article",[638,641,644],{"slug":639,"name":640},"batteries","Batteries",{"slug":642,"name":643},"critical-minerals","Critical Minerals",{"slug":645,"name":646},"gigafactories","Battery & Gigafactory","private","",{"id":49,"alt":648,"name":648,"focus":648,"title":648,"source":648,"filename":648,"copyright":648,"fieldtype":650,"meta_data":651,"is_external_url":50},"asset",{"alt":648,"title":648,"source":648,"copyright":648},"Apr 03, 2016","3rd April 2016",[],[],1789748884588]