The key enabler for powering the EV transition: lightweight composite battery enclosures [Yahoo! Finance]
MITSUBISHI CH GRP U/ADR (MTLHY)
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Source: Yahoo! Finance
The lithium-ion (Li-ion) battery industry will reach over $400bn in value by 2035 according to GlobalData research, up from just under $90bn in 2022. It amounts to a robust 12.5% compound annual growth rate (CAGR). Soaring demand for clean mobility solutions is the key driver. The ascent of EVs - both passenger cars and commercial vehicles – will underpin the Li-ion battery sector's expansion over the next decade. McKinsey forecasts that mobility applications will command at least 90% of battery demand by 2030. GlobalData's projections are equally grand, with EV production expected to reach 17.3 million units by 2025 - 18.4% of total light vehicle production. By 2028, this figure is anticipated to escalate to 28.3 million units, accounting for 28% of production. Growth will only continue into the 2030s. Despite significant advancements, Li-ion batteries remain bulky, hampering EV performance and efficiency. Anxieties around range also persist among potential buyers. Reducing the w
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