Rolling out EVs: A Marathon or a Sprint?

Arguments

Decarbonizing the mobility system with electric vehicles is a substantial challenge due to the immense amount of lithium needed

Supporting facts:

• Three billion tons of lithium would be required to replace the global vehicle fleet with electric vehicles

• It would take 700 years to extract this amount of lithium

Topics: electric vehicles, decarbonization, lithium extraction, mobility

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A value chain approach is essential in addressing the issue

Supporting facts:

• Emission reduction needs to be tackled across the value chain including batteries, charging stations, energy grids and the materials needed to manufacture them

• Policies, regulations and incentives on circularity, recycling and materials extraction need to be mobilized

Topics: value chain approach, emission reduction, policies and regulations, recycling, public-private collaboration, circular economy

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Report

Decarbonising the mobility system through the use of electric vehicles presents a significant challenge due to the enormous amount of lithium required. To replace the global vehicle fleet with electric vehicles, it would take three billion tonnes of lithium, and the extraction process alone would take approximately 700 years.

This highlights the scale of the challenge in transitioning towards a more sustainable and clean energy future. To address this challenge, a value chain approach is essential. Emission reduction should be addressed across the entire value chain, including the batteries and charging stations of electric vehicles, as well as the energy grids and the materials needed for their manufacture.

This comprehensive approach allows for a reduction in the environmental impact of electric vehicles and promotes a more sustainable and circular system. Moreover, it is crucial to implement policies, regulations, and incentives that promote circularity, recycling, and responsible materials extraction.

Through these measures, innovation can be encouraged, sustainable practices can be established, and dependence on virgin materials can be reduced, leading to optimized resource use and minimized waste. Public-private collaborations and partnerships are of utmost importance in facilitating the transition towards electric vehicles.

The involvement of various stakeholders, including governments, businesses, and non-profit organizations, is necessary to drive systemic changes and overcome the challenges associated with this transition. Collaborative efforts, such as the Circular Cars Initiative, part of the World Economic Forum Center for Advanced Manufacturing and Supply Chain, serve as examples of initiatives aimed at advancing sustainable mobility.

In conclusion, decarbonising the mobility system by widely adopting electric vehicles is a complex task due to the substantial amount of lithium required. However, by adopting a value chain approach that encompasses emission reduction, circularity, recycling, and responsible materials extraction, it becomes possible to overcome these challenges and create a more sustainable and environmentally friendly transportation system.

Public-private collaborations and partnerships play a vital role in supporting this transformation and driving the necessary changes.

Arguments

Charlie Nunn is interested in learning more about innovation in battery technology, specifically about sodium and possible lower cost alternatives, and how it would impact the vehicle financing and their residual values

Supporting facts:

• Charlie Nunn is the CEO of Lloyd’s Banking Group and the biggest owner of EVs in the UK

• 90% plus of vehicles require financing

Topics: Innovation, Battery technology, Vehicle financing, Residual values, Sodium batteries

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Improving the quality of batteries through upstream and downstream processes.

Supporting facts:

• Lisa works for a company that are dealing with people who are without electricity

• Swaft Foundation awarded Lisa as Social Innovator of 2024

Topics: Battery Technology, Decarbonization

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Powering underdeveloped or underprivileged nations with lower cost of energy by solar or battery storage.

Supporting facts:

• There are people still living in underdeveloped situations without access to electricity

Topics: Solar Energy, Energy Storage

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Report

The analysis provides a comprehensive overview of different perspectives on battery technology and its implications for various sectors. One of the key figures mentioned is Charlie Nunn, the CEO of Lloyd’s Banking Group, who is particularly interested in the advancements in battery technology, specifically sodium batteries and potential alternatives that could offer a lower cost.

Nunn is keen to understand how these innovations would impact the financing of vehicles and their residual values. This suggests that Nunn recognizes the potential disruptive effects that such advancements could have on the automotive industry and the financial landscape surrounding it.

An interesting observation is Nunn’s curiosity about the battery leasing model prevalent in China and its potential adaptation in Western markets, particularly as an Original Equipment Manufacturer (OEM). This highlights Nunn’s awareness of emerging business models and their potential for success in other regions.

The fact that Nunn has personally witnessed the effectiveness of this model in China suggests that he sees potential value in exploring its prospects for adoption in Western markets. Another perspective is provided by Lisa, who works for a company involved in dealing with people without access to electricity.

Lisa recognizes the importance of improving battery quality through both upstream and downstream processes. This focus on quality improvement reflects Lisa’s commitment to enabling reliable and sustainable energy solutions for those in need. It is noteworthy that Lisa’s efforts have been recognized, with the Swaft Foundation awarding her as a Social Innovator in 2024.

This demonstrates Lisa’s dedication to making a positive social impact through her work. The importance of battery recycling is emphasized, with a suggestion that batteries should not only be recycled but also considered for reuse or refurbishment. This viewpoint aligns with the principles of responsible consumption and production, as well as the goal of achieving affordable and clean energy.

The mention of 800 million people around the world living without access to electricity highlights the urgency and significance of finding sustainable solutions in the realm of battery technology. Finally, there is a positive stance towards the idea of using battery storage or solar energy to power underdeveloped nations with lower-cost energy alternatives.

This aligns with the Sustainable Development Goals of reducing poverty, ensuring affordable and clean energy, and promoting reduced inequalities. The analysis recognizes the potential role that battery technology can play in addressing social and economic disparities in underprivileged regions. In conclusion, the analysis provides an in-depth exploration of various perspectives on battery technology.

It highlights the interest of individuals like Charlie Nunn in the potential disruptive impacts of advancements in battery technology on sectors such as vehicle financing. It also underlines the importance of battery quality improvement, recycling, and considering alternative energy sources in addressing the global challenge of providing reliable and sustainable energy to underprivileged regions.

Arguments

Brian Kemp’s goal is for Georgia to be the e-mobility capital of the world

Supporting facts:

• Georgia has some great OEMs such as the Hyundai Meta plant, the Rivian plant, Kia is adding an EV line

• Georgia has an incredible business environment, infrastructure, ports, rail, airports

• Georgia has had 40 supplier projects just from Rivian and Hyundai, along with battery and air mobility projects

Topics: E-mobility, Business Environment, Workforce

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Being forward-thinking is important for maintaining the business circle

Supporting facts:

• Georgia has been aggressive in attracting recyclers to be part of its system

• This enables Georgia to reduce dependency on one place in the world for rare earth minerals and helps to diversify the supply chain

Topics: Recycling, Supply Chain, Business Circle

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Companies are interested in producing clean energy and Georgia is a leading state in this area

Supporting facts:

• Georgia is the tenth largest state in terms of solar production

• Georgia has completed one of two new nuclear reactors

Topics: Clean Energy, Companies’ Interest, Economic Development

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Green energy initiatives are also beneficial from an economic development standpoint and can be used as a marketing tool

Supporting facts:

• Companies want green, clean energy for their operations

• Green energy initiatives can attract more businesses to Georgia

Topics: Green Energy, Economic Development, Marketing

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Report

Georgia, under the leadership of Governor Brian Kemp, aims to become the e-mobility capital of the world. The state has attracted major OEMs like Hyundai Meta, Rivian, and Kia’s new EV line due to its excellent business environment and robust infrastructure.

Georgia provides a conducive business environment and supports corporations in meeting their goals by ensuring a skilled workforce and other essential business requirements. The state’s proactive approach towards diversifying the supply chain by incentivizing recyclers helps reduce dependency on a single source for rare earth minerals.

Furthermore, Georgia has made significant strides in clean energy production. With its position as the tenth largest producer of solar energy in the US and the completion of two new nuclear reactors, Georgia has become an attractive destination for companies interested in clean energy.

Partnerships with Georgia Power and the Southern Company have been instrumental in this progress. To remain competitive and meet growing demand, Georgia must continue advancing in clean energy production. Moreover, green energy initiatives not only benefit the environment but also have economic development advantages.

Georgia’s commitment to green energy serves as a marketing tool, attracting businesses that value sustainability. These efforts align with the Sustainable Development Goals, specifically SDG 7: Affordable and Clean Energy, and SDG 8: Decent Work and Economic Growth. In conclusion, Georgia’s ambition to be the e-mobility capital of the world, backed by Governor Brian Kemp’s leadership, is bolstered by its business-friendly environment, strong infrastructure, and skilled workforce.

The state’s commitment to diversifying the supply chain, advancing clean energy production, and promoting green energy initiatives positions it as an appealing destination for companies seeking growth, economic development, and a sustainable future.

Arguments

Hilde Merete Aasheim is highly concerned about the current state of the planet and believes there is a strong need for immediate action.

Supporting facts:

• Mentions the planet being ‘on fire’, extreme weather conditions and the need for swift action.

Topics: Climate change, Sustainability, Global warming

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Aasheim is positive about the electrification of the transport sector, but warns that it is not a complete solution as the production of electric vehicles also contributes to CO2 emissions.

Supporting facts:

• Electric vehicles require steel and aluminum, which make up 25% of global CO2 emissions.

Topics: Electrification, Transport sector, CO2 emissions

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A systemic shift is required, not just allocation of capital for tests, pilots, plants, and technology

Supporting facts:

• Recognizes the need to develop a market demand

Topics: capital allocation, systemic shift, carbon footprint, technology

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Recycled content must be increased in products to reduce carbon footprint

Supporting facts:

• Stresses on the necessity to design products keeping in mind their lifecycle and recyclability

Topics: recycling, carbon footprint, eco-design

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Report

Hilde Merete Aasheim, the CEO of Hydro, expresses deep concern about the current state of the planet and emphasises the urgent need for action to address climate change. She believes that swift and decisive measures are required to tackle the challenges of extreme weather conditions and rising global temperatures.

Aasheim’s argument is supported by the statement that the planet is metaphorically “on fire,” highlighting the severity of the situation. Her sentiment throughout the discussion is primarily negative, reflecting her high level of concern. While Aasheim supports the electrification of the transport sector as a positive step towards reducing carbon emissions, she also cautions that it is not a complete solution.

Aasheim points out that the production of electric vehicles requires steel and aluminum, which account for approximately 25% of global CO2 emissions. This mixed sentiment highlights the need for holistic approaches and sustainable practices in the industry. A major focus of Aasheim’s discussion is the role of Hydro in contributing to a greener future.

She strongly believes that her company can make a significant impact by producing low-carbon aluminium. Hydro has control over the entire value chain in aluminium production, enabling them to use renewable energy sources and achieve an 85% lower CO2 footprint compared to the industry average.

This positive stance underscores Hydro’s commitment to sustainable manufacturing and aligns with the goals of SDG 9: Industry, Innovation, and Infrastructure and SDG 13: Climate Action. Aasheim also advocates for recycling as a crucial strategy for reducing carbon emissions. She highlights that aluminium can be recycled repeatedly without losing its properties, requiring only 5% of the energy used in the initial production process.

This positive sentiment towards recycling, particularly in the context of aluminum, reflects Aasheim’s belief that increasing the use of recycled content in products can significantly reduce their carbon footprint. Furthermore, Aasheim emphasises the value of partnerships and collaboration in driving green initiatives.

She values the cooperation with companies like Mercedes and Volvo Group and acknowledges that important dialogues are occurring at the CEO level. This positive sentiment towards partnerships aligns with the principles laid out in SDG 17: Partnership for the Goals. Aasheim sees collaboration as an essential element in achieving sustainable practices and advancing towards a greener future.

Preserving biodiversity and practicing sustainable mining is another aspect that Aasheim strongly emphasizes. She believes that responsible mining is a crucial part of corporate responsibility. Aasheim mentions that Hydro takes efforts to rehabilitate areas affected by bauxite mining. They conduct studies to evaluate the environmental impact before mining and work to restore the forests as quickly as possible.

This positive sentiment aligns with SDG 15: Life on Land and SDG 13: Climate Action, underlining the importance of sustainable practices in achieving environmental goals. Finally, Aasheim highlights the need for a systemic shift in the industry, rather than solely relying on capital allocation.

She recognises the necessity of developing market demand and shifting towards sustainable technologies. This positive sentiment reinforces the urgent need for change in the industry and aligns with SDG 9: Industry, Innovation, and Infrastructure and SDG 13: Climate Action. In conclusion, Hilde Merete Aasheim’s discussions and arguments revolve around the need for urgent action, partnerships, recycling, sustainable practices, and a systemic shift in the industry.

Her concern for the planet’s wellbeing is evident, and she strongly believes in Hydro’s ability to contribute to a greener future through low-carbon aluminium production. Aasheim’s emphasis on collaboration, preserving biodiversity, and responsible mining reflects her commitment to corporate responsibility and aligns with the Sustainable Development Goals.

Overall, her stance is positive, acknowledging the importance of immediate action and the adoption of sustainable practices to achieve environmental sustainability.

Arguments

Selectrical propulsion is a better engineering solution than internal combustion engines

Supporting facts:

• an internal combustion engine is roughly 35% efficient

• propulsion systems, such as the system from Volvo, are 93% efficient

• electric propulsion involves less noise, heat, and vibration, and has zero tailpipe emissions

Topics: electric vehicles, energy efficiency

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Volvo is committed to becoming a 100% electric company by 2030

Supporting facts:

• Volvo has stopped diesel and all investment in internal combustion engines

• It aims to achieve net zero emissions by 2040

Topics: electric vehicles, industry transition

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Partnerships and collaborations are integral to Volvo’s strategy

Supporting facts:

• Volvo sees partnerships as a means to complement what they build internally with what can be outsourced.

• Volvo follows a framework to decide on its partnerships, focusing on strategic alignment, economical benefits, operational capabilities, and trust.

Topics: Partnerships, Collaborations, Strategic Alignment

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The importance of trust and long-term strategic decision making in industries.

Supporting facts:

• Jim Rowan mentions dealing directly with CEOs instead of the procurement teams to ensure strategic decisions. He noted the importance of long-term and tactical decisions over cost considerations.

Topics: Partnerships, Trust in Business, Strategic Decision Making

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Jim Rowan does not support battery leasing for Volvo, instead advocating for being able to track the entire lifespan of the battery within a Volvo car

Supporting facts:

• In the next production cycle, Volvo plans to create a ‘digital twin’ of each vehicle in the cloud, providing real-time tracking of the vehicle’s condition and history

• Volvo’s software algorithms can determine the state of the battery, a feature they refer to as ‘battery passport’

Topics: Volvo, Battery leasing, Vehicle technology, Core computer architecture

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Utilization of LFP battery technology is increasing in car manufacturing

Supporting facts:

• LFP technology is suitable for battery storage

• LFP is becoming mainstream in car manufacturing

Topics: LFP battery technology, Car Manufacturing

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Volvo’s new enterprise, Volvo Energy Solutions

Supporting facts:

• The business aims to bring the supply chain, knowledge and cost benefits of large-scale battery production to static storage

• Volvo Energy Solutions offer products for 250-1000 gigawatts storage

Topics: Volvo Energy Solutions, Battery production

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Report

The analysis focuses on several key points discussed by different speakers. Firstly, it highlights the advantages of electric propulsion over internal combustion engines. It mentions that an internal combustion engine is only roughly 35% efficient, whereas propulsion systems like Volvo’s are 93% efficient.

Electric propulsion offers higher efficiency, less noise, heat, and vibration, and zero tailpipe emissions. This supports the argument that electrical propulsion is a superior engineering solution to internal combustion engines. Secondly, the analysis emphasizes the urgent need to tackle the global climate crisis.

The speakers express concern and state that time is running out and excuses are no longer acceptable. They highlight the scale and complexity of climate change, emphasizing the need for unified action from academia, government, financing, and industry. This reinforces the importance of immediate steps to address the crisis.

Furthermore, the analysis highlights Volvo’s commitment to becoming a 100% electric company by 2030. Volvo has already stopped diesel production and all investments in internal combustion engines. Their aim is to achieve net-zero emissions by 2040. This commitment aligns with SDG 7, SDG 12, and SDG 13.

The analysis also emphasizes the essential need for government investment in green infrastructure. Green energy is not only necessary for green materials but also crucial for environmentally friendly recharging of electric vehicles. This aligns with SDG 7 and SDG 17. Another concern highlighted in the analysis is the degradation of biodiversity.

The speakers express concern over the impact of company behavior on biodiversity. This reveals the need to address this issue and protect biodiversity. This aligns with SDG 14 and SDG 15. The importance of partnerships and collaborations for Volvo is also addressed.

Volvo sees partnerships as a means to complement their internal efforts and follows a framework that focuses on strategic alignment, financial benefits, operational capabilities, and trust. This highlights the role of partnerships in achieving Volvo’s objectives and contributes to SDG 17.

Trust in partnerships is emphasized as crucial by the speakers. Volvo values trust in deciding which partners to work with and ensuring their values align with the company’s own. This further underscores the importance of trust in successful partnerships. Furthermore, the analysis points out that Volvo prioritizes quality, scalability, and global operability when choosing partners.

Volvo assesses the operational capabilities of potential partners before entering into a partnership. This reinforces Volvo’s focus on ensuring the suitability and compatibility of partners. The analysis also highlights that partnerships should make sense both financially and technically. Partnerships are considered economical if they offer financial benefits to Volvo, and technical alignment of partners with Volvo is also crucial.

These factors are taken into account when evaluating potential partnerships. Additionally, the speakers highlight the importance of long-term strategic decision making and trust in industries. They advocate for direct involvement with CEOs to ensure strategic decisions and note the significance of considering long-term and tactical decisions over cost considerations.

The analysis includes noteworthy observations such as Volvo’s plan to create a ‘digital twin’ of each vehicle in the cloud, providing real-time tracking of the vehicle’s condition and history. Volvo also emphasizes the importance of vehicle-to-grid (V2G) technology and proposes tax-free earnings when plugging in a car to the grid.

These observations highlight Volvo’s focus on software, connectivity, and data, as well as their interest in innovative technologies and infrastructure. Furthermore, the utilization of LFP battery technology in car manufacturing is mentioned as increasing. This demonstrates the ongoing efforts in the industry to adopt more sustainable and efficient battery technologies.

Volvo’s establishment of Volvo Energy Solutions to bring the benefits of large-scale battery production to static storage is also highlighted. Lastly, the analysis mentions support for using core technologies and battery storage to advance developing nations. The speakers highlight that static storage offers an opportunity for developing nations to harness their natural resources and store solar energy for use, which can be particularly beneficial for schools and hospitals as backup systems.

In conclusion, the analysis highlights various important topics, including the advantages of electric propulsion, the need to address the global climate crisis, Volvo’s commitment to becoming a 100% electric company, the importance of government investment in green infrastructure, concerns about biodiversity degradation, the significance of partnerships and collaborations, the emphasis on trust and strategic decision making, and other noteworthy observations like the adoption of LFP battery technology and the focus on software and connectivity.

These findings underscore the complexities and opportunities within the sustainable development and automotive industries.

Arguments

Innovation is crucial to tackle major problems in e-mobility.

Supporting facts:

• They are developing a lot on sodium batteries to deal with lithium shortages.

Topics: e-mobility, innovation, lithium shortage, technology

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Consumer demand can be satisfied through changes in business model.

Supporting facts:

• A model where consumers can own a car without the battery and lease the necessary battery pack exists.

• Example given of a car priced at 10,000 euro without the battery.

• Smaller battery can be leased for daily use, with the option to lease bigger pack when needed.

Topics: consumer demand, leasing model, business model, battery leasing

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Recycling is vital.

Supporting facts:

• They have mechanisms to recycle different elements like lithium, nickel, cobalt.

Topics: recyclicng, lithium recycling, nickel recycling, cobalt recycling

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Critical raw materials are essential for the manufacturing of batteries

Supporting facts:

• High-end cars like Volvo need high energy density batteries requiring nickel, cobalt, manganese

• Affordable cars could use low cost materials like lithium iron phosphate

Topics: raw materials, battery production

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Improving energy efficiency can solve resource issues

Supporting facts:

• Better energy efficiency implies less material requirement

• Higher efficiency can limit the space, thereby reducing the cost and resolving resource issues

Topics: energy efficiency, resource management

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Suppliers’ innovation capability is critical

Supporting facts:

• Suppliers provide critical materials for battery production such as new additives and materials, which contribute to chemical system innovation

• Focus on energy density, safety, and reducing costs

Topics: Supplier Relations, Innovation, Battery Production

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Sustainability and carbon neutrality is a crucial focus for the company

Supporting facts:

• Company has already four zero carbon factories

• Committed to make all key battery manufacturing factories zero carbon by 2025

• Plan to have a carbon neutral supply chain by 2035

• Use of a battery passport to trace each battery’s CO2 emission

Topics: Sustainability, Green Energy, Carbon Neutrality

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Increasing energy density in battery technology

Supporting facts:

• One area in battery technology is to increase energy density. For instance, current technology in the NCM can reach up to 260 watt per kilogram in a pack, allowing a 1,000 kilometer range car to require about 140 kilowatt-hour battery pack.

• Existence of condense matter battery increases energy density by 70%-80%, albeit expensive.

• Solid state battery can reach around 600 watt per kilogram at cell level, or best 400 watt per kilogram at pack level.

Topics: Battery Technology, Energy Density, Electric Vehicles

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Striving for longer cycle life batteries

Supporting facts:

• Another direction in battery technology is longer cycle life batteries. A car with 1,000 charge cycles for a 500 kilometer range per charge is enough for most consumers.

• Possible new business model ‘Vehicle-to-Grid’ makes use of the parked EVs as battery energy storage for the grid. This could require the car battery to have a much larger cycle life, as high as 18,000 cycles.

Topics: Battery Technology, Cycle Life, Electric Vehicles

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Difficulty in obtaining used batteries for refurbishing due to their high value

Supporting facts:

• Consumers calculate the worth of the battery based on the value of lithium and ask for increased prices

• The company successfully recycled 100,000 tons waste battery in China and were able to reuse 13,000 tons of lithium carbonate in the battery last year

Topics: Battery Recycling, Technology Companies, Refurbishing Batteries

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Report

The analysis explores several critical aspects of battery technology and its role in addressing challenges in e-mobility. Firstly, innovation is identified as crucial in tackling major problems in e-mobility, such as potential lithium shortages. The development of sodium batteries is highlighted as a sustainable solution to address this issue.

Changes in business models are also seen as important in meeting consumer demand. The example of a car priced at 10,000 euros without the battery, where consumers can lease the necessary battery pack, is given as an illustration of how business model changes can increase affordability and accessibility of electric vehicles.

Recycling is emphasized as vital for battery technology, with mechanisms in place to recycle elements such as lithium, nickel, and cobalt. This focus on responsible consumption and production practices contributes to the sustainability of battery technology. Decarbonization is seen as a crucial goal that requires collaboration between industry, government, and consumers.

This shared responsibility in combating climate change and promoting clean and affordable energy sources is emphasized. The importance of critical raw materials in battery manufacturing is highlighted, with different materials required for high-end and affordable cars. Sustainable sourcing of these materials is essential to ensure widespread adoption of electric vehicles.

Energy consumption efficiency is deemed crucial for the future of battery technology, as it determines the range of electric vehicles and reduces the materials required for battery production. Supplier relations are also emphasized, as suppliers provide critical materials for battery production and contribute to innovation.

Collaboration with suppliers is important for advancing battery technology in terms of performance, safety, and affordability. The company’s commitment to sustainability and carbon neutrality is highlighted, with plans to make all key battery manufacturing factories zero carbon by 2025 and achieve a carbon-neutral supply chain by 2035.

The use of a battery passport to trace CO2 emissions further demonstrates the company’s environmental accountability. Advancements in battery technology are discussed, focusing on increasing energy density and extending cycle life. Solid-state batteries and condensed matter batteries are identified as potential technologies, but mass production, cost-effectiveness, and safety remain challenges.

The difficulty in obtaining used batteries for refurbishing is highlighted, primarily due to their high value. Government support in directing used batteries to tech companies for refurbishing is seen as crucial for a sustainable and circular economy in the battery industry.

Overall, the analysis provides insights into various aspects of battery technology and their implications for e-mobility. It highlights the importance of innovation, changes in business models, recycling, decarbonization, critical raw materials, energy consumption efficiency, supplier relations, and sustainability. Advancements in battery technology are acknowledged, along with the challenges associated with them.

The analysis also emphasizes the need for government support to promote a circular economy in the battery industry.