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Ilika Plc

Electric Car Batteries Will Contribute $1.2 Trillion to Global Economy

Investment into energy storage technology is expected to require an investment of $1.2 trillion by 2040, a part of which will be made up by batteries for electric vehicles. Furthermore, battery technology is expected to progress rapidly to meet the needs of automakers and consumers, who won’t stop searching for more efficient, powerful energy sources.

Solid-state batteries are thought to be the future of energy storage due to their solid electrolyte, which resists catching fire better than the liquid electrolyte of a lithium-ion battery. Some also believe solid-state batteries can possess energy density superior to that of liquid-electrolyte batteries, which can, in turn, allow for smaller batteries and less weight with a better range.

 

Ilika plc (LON: IKA) has world class expertise in accelerated materials innovation, including in the automotive, aeronautical and electronic components sectors. Global brands such as Rolls-Royce and Toyota have long-term collaborations with Ilika. High throughput technology enables functional materials to be made, characterised and tested up to 100 times faster than traditional techniques. Robust datasets enhance intellectual property value, optimise product performance and reduce time to market, thereby maximising return on R&D investment.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.