A report from the US based EDF demonstrates that the USA alone is on track to produce enough batteries to power 12 million EVs by 2027.
that the majority of all vehicles produced globally would be battery electric by 2027, but there was doubt expressed at how this could occur due to battery supply constraints. However, the IRA has provided extra motivation for investment in battery manufacturing — these batteries will enable the rapid transition.
EDF predicts: “U.S. investments, jobs, and production capacity will likely continue to grow in response to strong federal investments and incentives. Global EV and battery manufacturers have announced aggressive and sustained investment needs worldwide to support the EV transition over the next decade. While many have not yet specified where those investments will occur, current investment data demonstrates that the IRA has made the U.S.
So, based on this analysis, it is likely that batteries will be available to power more than 12 million cars. It is also worth noting that battery chemistries are constantly being tweaked to give more power in smaller size. This figure determined by the EDF might prove to be very conservative indeed.
Back in March, I wrote of the global surge in EVs: “In 2020, 3.2 million plugin vehicles were sold. In 2021, this increased to approximately 6 million. Last year, it was over 10 million. So, we would expect 16 million to sell in 2023, 25+ million in 2024, over 40 million in 2025, and over 60 million in 2026. By 2027, the game is over — the whole market is under 80 million vehicle sales a year.”
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