EV Market Grows With Sustained Government Support
Written By: Stratton Report
August 9, 2018
According to data provided by MarketsandMarkets, the global lithium compounds market is projected to reach USD 5.87 Billion by 2020 while increasing at a CAGR of 13.22% between 2015 and 2020. The report specifies that lithium-ion batteries are the largest application for lithium compounds, in terms of value and volume. The demand for lithium-ion batteries is growing around the world for new generation energy electronic devices like cameras, high-performance portable computing devices, and electric vehicles.
The EVs industry itself is a young and innovative technology-based initiative with strong growth projections. MarketsandMarkets research on EVs explains that the major factors behind the growth of electric vehicle sales are government support, which comes in the form of grants, subsidies and tax rebates, additional factors include growing environmental consumer awareness, improvements to charging infrastructure, and increasing vehicle range. Furthermore, global electric vehicle sales are projected to grow at a CAGR of 32.57% from 1.50 Million units in 2018 to 10.79 Million units by 2025.
MGX Minerals Inc. The company announced that it had entered into a Memorandum of Understanding to acquire 50% of the issued shares of Chilean Lithium Salars SpA. CLS is a wholly owned subsidiary of Chilean Lithium Salars Pty Ltd. and holds a 100% interest in three prospective lithium exploration Projects located in Chile.
Tesla Inc. Second quarter highlights include: Q2 Automotive gross margin increased to 20.6% GAAP and 21.0% non-GAAP; Model 3 gross margin turned slightly positive in Q2, expecting roughly 15% in Q3; Expecting to produce 50-55k Model 3s in Q3; deliveries should exceed that; Major cost restructuring executed in Q2 USD 2.2 Billion of cash and cash equivalents at Q2-end, expected to grow in Q3 and Q4; Capex projection in 2018 adjusted to <USD 2.5 Billion. The Tesla Gigafactory was born out of necessity and will supply enough batteries to support Tesla’s projected vehicle demand of 500,000 cars per year by 2018, which will require today’s entire worldwide supply of lithium-ion batteries.
FMC Corporation The Company announced that it will rebrand its lithium materials business as Livent Corporation following the previously announced plan to separate FMC Lithium into a publicly traded company. Livent Corporation produces high-performance lithium compounds that are helping meet the growing demand for lithium. “This announcement marks another major step in our progress to create two stand-alone leading public companies,” stated Pierre Brondeau, FMC Corporation CEO and Chairman. “As an independent company, Livent will have the freedom and ability to chart its own course and business strategy. Its leadership and employees will have the flexibility to experiment, thrive and pursue its growth plans with a great new brand. And we are equally excited about FMC’s future as one of the largest agricultural technology companies focused on bringing advanced innovation and sustainable solutions to farmers around the world.”
General Motors General Motors announced last year the Buick LaCrosse expanded its technological credentials by adding eAssist light electrification for the 2018 model. This new eAssist system, when coupled with the four-cylinder engine, has a 19% increase in city fuel economy compared to the LaCrosse’s advanced V-6 and leverages a compact lithium-ion battery pack to provide select benefits found in fully electric vehicles, such as torque-assisted launch, energy-saving regenerative braking and exceptionally smooth stop/start. It will be the standard powertrain for the 2018 LaCrosse, which goes on sale this fall. “Executing innovative technologies in an approachable and meaningful way is core to Buick,” said Duncan Aldred, Vice President, Global Buick and GMC. “By adding the eAssist system to the LaCrosse, our technology flagship, we are making electrification accessible to our customers as we chart our course to the future of mobility.”
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