The hunt is on for ‘end-game’ tech to slash EV battery production costs

Global electric vehicle (EV) uptake looks set to increase rapidly throughout the next decade, with research from McKinsey suggesting that EVs could rise to up to 20% of annual global sales by 2030.

But as demand continues to grow, those creating the batteries that power the vehicles are feeling the pressure. Automakers are rushing to create diverse portfolios of high-end and mass-market EVs, but prices are still prohibitively high for many potential buyers. This is in large part due to the batteries themselves, which currently represent 40-50% of the cost of an EV.