Vivas Kumar is a Principal at Benchmark Mineral Intelligence, a market intelligence firm covering the electric vehicle industry. He previously managed the global lithium-ion battery supply chain at Tesla (2016–2019). Kumar was responsible for sourcing over 100 materials used to make batteries at Tesla.
Another month has passed, and yet another 89 gigawatt-hours (GWh) of lithium-ion battery factory capacity has been added to the planning pipeline for production in 2023. This represents growth of 9% in just a single month (more than 100% annualized growth)!
Another month passes, another 43 GWh of battery factory capacity is brought into the planning pipeline for production in 2023, adding over 4% to the global total, in just a single month (50% annualized growth).
China is charging full speed ahead into electric vehicles, on track to sell over 2 million electric vehicles this year, from 1.1 million in 2018. The rapid growth has been driven partly by policy, but increasingly by consumer demand. In the 3rd and final part of this series (check out part one and part two, if you missed them), we look at the ramp up in EV production and battery supply. Will production capacity be able to keep pace with the rapid growth in EV demand?
