Electrical Energy Storage

In the UK, there are now over a million electric cars on the roads with electric vehicles accounting for over 20% of sales. The number of models available to consumers continues to grow, with over 100 available, which in turn is improving the availability of vehicles at different price points. This has led to a rapid maturing of lower cost lithium iron phosphate (LFP) battery technology as well as growing interest in sodium-ion batteries.

Despite this growth, uncertainty remains around price parity with internal combustion engine (ICE) vehicles. This could, in part, be driven by a continuing period of economic uncertainty and changing legislation. Since 2020, 35 countries have introduced nearly 200 pieces of legislation relating to securing or profiting from critical minerals, with 100 pieces of legislation launched in the last two years alone.

The role of critical minerals features strongly in this roadmap, particularly in relation to the recycling of end-of-life batteries, with many countries seeking to secure material in a turbulent global landscape.

From a technology viewpoint, advances have been rapid with consumer concerns around ‘range anxiety’ reducing significantly thanks to higher energy densities and lighter batteries owing to advancements in pack integration.

The 2024 roadmap focuses on high-volume, cost-sensitive applications and is split into two parts:

• Battery cell
• Battery modules and packs