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EV Battery Demand Dwarfs Capacity


                                                                    Date: 2012-09-04

There is an alarming gap between the current production capabilities for key battery materials and projected needs of the global automotive industry. The specialty chemical industry lacks the capital and engineering resources needed to build and operate plants with enough capacity to serve the automotive industry¨s needs over the next ten years unless significant new lower-cost, industrially-scalable production technologies are introduced soon.

The total global market for lithium-ion batteries today is about US$10bn, almost all of which are small batteries for consumer handheld devices such as cell phones and laptops. Forecasted introduction of electric vehicles by the automotive industry will create demand for an additional US$70bn of lithium-ion batteries per year by 2020.

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