Global Lithium-Ion Battery Market Size Could Exceed $115 Billion By 2030 as Demand is Booming

Palm Beach, FL – July 27, 2021 Lithium-ion batteries are a source of power for electric vehicles. The widespread use of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) has inevitably boosted the adoption of lithium-ion batteries, which is expected to increase further in the future. The growing adoption of EVs among consumers has helped boost the market for these energy-saving, pollution-reducing vehicles. The number of electric vehicles is constantly increasing, owing to advantages aligned with them such as less need to maintain the vehicle engine, reduced use of hazardous oil waste, and reduction in pollution caused by fuel combustion engines, along with the development of improved battery technologies. Electric vehicles are perceived as the future of the automobile industry and transportation systems; their increased adoption will eventually increase the demand for lithium-ion batteries.  A report from MarketsAndMarkets said that the global lithium-ion battery market size is projected to grow from USD 41.1 billion in 2021 to USD 116.6 billion by 2030; it is expected to grow at a CAGR of 12.3% from 2021 to 2030. The growth of the lithium-ion battery market is majorly driven by surging requirement for continuous power supply from critical infrastructures in wake of COVID-19, increasing demand for plug-in vehicles, growing need for battery-operated material-handling equipment in industries due to automation, continued development of smart devices, and growing adoption of lithium-ion batteries in renewable energy sector.  Active stocks in the markets this week include XPeng Inc. (NYSE: XPEV), Spey Resources Corp. (CSE: SPEY) (OTCPK: SPEYF), Tesla, Inc. (NASDAQ: TSLA), NIO Inc. (NYSE: NIO), Li Auto Inc. (NASDAQ: LI).

 

The MarketsAndMarkets report continued: “The price of lithium-ion batteries has been a major factor hindering adoption since their introduction in the 1990s. A lithium-ion battery consists of many components. The primary component of any lithium-ion battery is the cell, which accounts for almost 50% of its cost; electronics, assembly, and packaging account for the rest. However, recent developments and claims made by lithium-ion battery manufacturing companies and automobile companies suggest that the price of these batteries is expected to decline substantially. According to General Motors Company (US), the cost of a cell is expected to drop to USD 100 per kWh by 2021. Developments such as manufacturing on a large scale, declining price of components, and adoption of advanced technologies to boost battery capacity are some of the factors leading to a decline in price. A reduction in the price would catalyze the adoption of these batteries across various new applications.”

 

Spey Resources Corp. (CSE: SPEY) (OTCPK: SPEYF) BREAKING NEWS:  Spey Resources Lithium Brines Samples From Incahuasi Salar Argentina Arrives at University of Melbourne Australia for Processing  – Spey Resources Corp. (CSE: SPEY) (OTCPK: SPEYF) (“Spey” or the “Company”) is pleased to announce that the lithium brine samples from the Incahuasi Salar, Argentina have been received by the University of Melbourne.  There are three grades of brine to be processed.

 

Nader Vatanchi CEO commented, “we are excited that the brines are in Melbourne as we can now process the brines from Incahuasi using the Ekosolve™ Lithium Solvent Exchange Direct Lithium Extraction process with the aim of producing a battery grade Lithium sample from our brine. Phillip Thomas, Project Director is in discussion with several battery producers and having a sample of lithium carbonate will assist greatly with the objective of attaining an off-take agreement”.    

 

Spey Resources is a Canadian mineral exploration company which holds an option to acquire 100% interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, through its wholly owned subsidiary Tech One Lithium Resources Corp and Pocitos Salar lithium project in Argentina. Spey also holds an option to acquire a 100% undivided interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia.  CONTINUED….  Read this release for the Spey Resources Corp. news at:  https://www.financialnewsmedia.com/news-spey/

 

Other recent developments in the lithium/battery, EV markets include:

 

Tesla, Inc. (NASDAQ: TSLA) recently announced that in the second quarter, it produced and delivered over 200,000 vehicles. Our teams have done an outstanding job navigating through global supply chain and logistics challenges.

 

Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q2 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

 

NIO Inc. (NYSE: NIO), a pioneer and a leading manufacturer of premium smart electric vehicles in China, recently announced its June and second quarter 2021 delivery results.

 

NIO delivered 8,083 vehicles in June 2021, a new monthly record representing a robust 116.1% year-over-year growth. The deliveries consisted of 1,498 ES8s, the Company’s six-seater or seven-seater flagship premium smart electric SUV, 3,755 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,830 EC6s, the Company’s five-seater premium smart electric coupe SUV. NIO delivered 21,896 vehicles in the three months ended June 2021, a new quarterly record representing a strong increase of 111.9% year-over-year. As of June 30, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 117,597 vehicles.

 

XPeng Inc. (NYSE: XPEV) The XPeng G3 ranks top in quality in the compact BEV (battery-powered electric vehicle) segment based on owner experience, according to J.D. Power in its 2021 China New Energy Vehicle Initial Quality Study recently released.

 

The XPeng G3 is the first model to obtain the top rating in this segment for a new car manufacturer in China, surpassing other models in its customer satisfaction rating in specific areas, including driving experience, infotainment systems and seating.

 

The G3’s rating reflects consumer recognition of its quality and intelligence. It obtained the highest total score of 92.2% among electric vehicles in China’s New Car Assessment Program (C-NCAP) safety test; and top G (good) scores in occupant safety, pedestrian safety, and vehicle auxiliary safety in the Chinese Insurance Automotive Safety Index (CIASI) crash test. Equipped with XPILOT 2.5, the G3 has the strongest autonomous driving assistance system in its class, with its auto parking feature ranked top by i-VISTA in 2020. Supported by XPeng’s in-house developed intelligent in-car operating system Xmart OS, the utilization rate of the AI-powered voice assistant exceeds 99%. The G3 has received 15 major firmware OTA upgrades since its launch, adding 55 new functions as of March 31, 2021.

 

Li Auto Inc. (NASDAQ: LI), an innovator in China’s new energy vehicle market, recently announced that the Company delivered 7,713 Li ONEs in June 2021, representing a 320.6% year-over-year increase, a 78.4% quarter-over-quarter increase, and a new monthly high. As the 2021 Li ONE continues to gain traction rapidly and drive a surge in orders, the Company’s new orders in June, which surpassed 10,000, also hit a record high. Total deliveries for the second quarter increased 166.1% year-over-year and 39.7% quarter-over-quarter to reach an all-time high of 17,575, exceeding the top end of the Company’s guidance range.

 

“On the day that marks Li Auto’s sixth anniversary, I’m pleased to share with you that thanks to strong user endorsement for the 2021 Li ONE, we set records in deliveries and new orders in June, the first full month of sales for the 2021 Li ONE after its launch,” said Yanan Shen, co-founder and president of Li Auto.

 

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.   For current services performed FNM has been compensated forty six hundred dollars for news coverage of the current press releases issued by Spey Resources Corp. by a non-affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

 

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

 

SOURCE Financialnewsmedia.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.