Frank
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By 2030, 2040 and 2050, there will be a strong demand for electric vehicles.Egypt - CoP27: Julien Paluku mobilizes partners for the project to install a battery factory
November 14, 2022
On Saturday, November 12, the Congolese Minister of Industry, Julien Paluku mobilized financial partners on the project to install the electric battery manufacturing plant in the DRC.
It was on the sidelines of the CoP27 held in Sharm-El Sheik (Egypt), that the Congolese Minister of Energy made this appeal. By inviting African countries to join the African Mining Development Center (CADM).
" By 2030, 2040 and 2050, there will be a strong demand for electric vehicles. The problem is to see how we should capture this march and at the same time fight against climate change. So, the DRC has an answer through its forests, its strategic minerals, "said the Congolese Minister of Industry.
Industry Minister Julien Paluku says that the United Nations Economic Commission for Africa has finished the selection of the firm that will do the first feasibility studies for setting up this factory.
Note that the DRC has begun the initiative to install electric battery manufacturing plants with Zambia.
David Mukendi
The problem is to see how we should capture this march and at the same time fight against climate change.
So, the DRC has an answer through its forests, its strategic minerals, "said the Congolese Minister of Industry.
Industry Minister Julien Paluku says that the United Nations Economic Commission for Africa has finished the selection of the firm that will do the first feasibility studies for setting up this factory.
Note that the DRC has begun the initiative to install electric battery manufacturing plants with Zambia.
*Speaking of 2030+ Julien, If you're watching, I see where,
Li-ion battery market to reach $430bn by 2033
A recent report by IDTechEx states that the lithium-ion battery market will reach over $430 billion by 2033.
According to the analyst, electric cars and transportation will represent the largest market.
“Battery electric cars will constitute over 90% of Li-ion demand, by GWh, by 2033,” the report reads.
“This will be driven by the increasing adoption of electric vehicles with more stringent emissions targets and goals and as EVs begin to reach cost parity with conventional ICE vehicles.”
IDTechEx’s experts also see significant market opportunities in consumer electronics, electronic devices, and stationary energy storage systems.
“Given the rapid pace of growth, significant investment has been placed on increasing production capacities for Li-ion batteries,” the report states.
“While a significant number of announcements and plans are in place for the development of battery supply chains in Europe and North America, China currently dominates.”
IDTechEx estimates that 70% of Li-ion cells were produced in China in 2021, and though this share is likely to shift to Europe and USA over the next five years, China is still expected to hold over 50% of manufacturing capacity by 2028.
The research firm notes that a large domestic market for both electric vehicles and stationary storage, and a strategic outlook on the importance of the battery market, have helped foster China’s strong position.
Raw materials
Looking at the impact of raw material prices on Li-ion battery adoption, IDTechEx notes that the upward trend has continued despite considerable headwinds over the past year, particularly connected to lithium and nickel substantial price increases.The analyst’s data show that such increases have led to the adoption of lower-cost battery technologies such as lithium iron phosphate, which has seen a resurgence in China and is gaining popularity in Europe and the US among automakers, as well as in the stationary storage sector.
“However, a shift to LFP would further consolidate China’s leading position with the vast majority of LFP cathode and batteries produced in China,” IDTechEx warns.
mining.com
Food for thought
Frank
