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ARTICLE · 13 DECEMBER 2021

Batteries, Batteries, And More Batteries

If the automotive industry is going to start manufacturing millions upon millions of electric powered vehicles, it is going to need a lot of batteries.

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If the automotive industry is going to start manufacturing millions upon millions of electric powered vehicles, it is going to need a lot of batteries.  Plainly, the capacity to meet that expected eventual demand does not currently exist. The world is going to need more announcements like the building of a battery plant in Greensboro, North Carolina. The plant is reportedly about 1/3 of what Toyota plans to spend on automotive batteries in the United States in the next decade.

Toyota is not alone of course. Just days before Toyota's announcement, General Motors revealed that it planned to form a joint venture with POSCO Chemical.  That venture will build a factory in North America to process "critical battery materials for GM's ultium electric vehicle platform."  With today's supply chain problems, GM acknowledged that the venture would help it work toward "building a sustainable and resilient North America-focused supply chain for EVs..."

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