- EV battery market set to triple to $67.7 billion by 2022
- Asian dominance in Li-ion batteries prompting pushback in Europe and North America
- Large battery manufacturing projects now underway by Tesla in North America and Northvolt in Europe
Asian dominance of lithium battery manufacture is causing concern. That disquiet became even more acute after Bosch announced in March 2018 that it had abandoned plans to make batteries for electric vehicles (EVs), highlighting the challenges faced by North American and European manufacturers as they seek to retain market share. The German industrial giant said that it would cost too much “to reach its target of creating 200 gigawatt-hours of manufacturing capacity a year,” output capacity estimated at around one-fifth of the EV and stationary storage markets by 2030. Reuters labelled the move “a blow to European politicians and car manufacturers who have called for companies to band together to create a regional battery cell producer to compete with Asian players such as Samsung and Panasonic.” Not everyone is throwing in the towel, however. There are plans afoot in Sweden to build what would be Europe’s largest lithium-ion battery factory. Major customers that close would certainly be good fortune for QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ). The junior exploration company is proposing to re-open the historic Irgon lithium mine located within the Cat Lake-Winnipeg River pegmatite field of Manitoba, Canada.
Asian hegemony of lithium battery manufacture is complete. The top five producers, who together claim 63 percent of the global market, are either Chinese, Japanese or South Korean. After Q1 2018 sales, Panasonic Sanyo of Japan remains top dog with a market share of 21.1 percent. Second is…
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