![]() share of global capacity, current forecasts imply that it will remain modest, advancing from 5.5 percent in 2021 to almost 11 percent by 2031. capacity is expected to expand another 86 percent. capacity is expected to grow more than fivefold from 2021 to 2026, according to data and estimates by Benchmark Mineral Intelligence, a data and market intelligence provider. ![]() production of lithium-ion batteries ( Chart 1). Lithium-ion battery production grows rapidlyĮxperts expect these new investments, as well as future ones, to significantly boost U.S. All but one exceeds 10 GWh of capacity, with the largest exceeding 40 GWh. The production capacity of these just-announced gigafactories generally dwarfs that of the earlier facilities, which was often less than 1 GWh. Several plants have also been announced in Canada. Since the start of 2021, more than 15 new facilities or expansions have been disclosed in the U.S., reflecting a potential investment of at least $40 billion. Six new facilities, worth more than $5 billion, were announced from 2018 to 2020. capacity additions were sporadic until recently when the pace of new announcements picked up. The capacity of those early factories was relatively small, reflecting modest sales of electric vehicles. experienced an initial wave of investment in lithium-ion battery factories after the Great Recession, driven in part by $2.2 billion of funding allocated in the American Recovery and Reinvestment Act of 2009. A gigafactory with 1 GWh capacity operating at full capacity could theoretically produce enough batteries each year to power 10,000 to 20,000 EVs. generates several million GWh of electricity per year.Īn EV battery pack, which contains hundreds or even thousands of cells, usually has a capacity of 50–100 kilowatt hours (kWh). consumes 30 kilowatt hours (kWh) of electricity daily, or 30,000 watt hours, while the U.S. To put that number in perspective, a typical household in the U.S. Gigafactories get their name from the fact that their annual capacity exceeds 1 gigawatt hour (GWh), or 1 billion watt hours. Their annual capacity is measured not in terms of the number of cells produced but rather in terms of the total energy capacity of all those batteries. For example, a common AA battery is an alkaline cell.Ĭells are produced in factories ranging in size from small, pilot production lines to enormous facilities covering hundreds of thousands of square feet that produce millions of cells per year. Individual batteries, technically known as “cells,” come in a wide variety of shapes, sizes and chemistries. in an effort to build out a key part of the domestic supply chain for batteries and EVs. ![]() Planned investment exceeds $40 billion, targeting parts of the U.S. Meeting these ambitious manufacturing goals will require batteries-lots of them-as an electric vehicle (EV) can use hundreds to thousands of individual lithium-ion batteries.Īs a result, there is a wave of new investment in gigafactories-enormous facilities devoted to the production of lithium-ion batteries. operations plan to significantly ramp up production of electric vehicles this decade and, in the process, commit huge capital outlays.
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