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Tech guru unveils new battery to challenge lithium-ion

By Tsvetana Paraskova - posted Monday, 14 August 2017

Meanwhile, lithium-ion battery prices have dropped a lot over the past few years. According to Bloomberg New Energy Finance (BNEF), the lithium-ion battery pack prices dropped from US$1,000/kWh in 2010 to US$273/ kWh last year.

Large demand for lithium-ion batteries is predicted ahead, with BNEF expecting EVs sales to accelerate and make up 54 percent of new car sales by 2040. One of the main drivers of EV growth, according to BNEF, will be tumbling battery prices.

"The real take-off for EVs will happen in the second half of the 2020s due to plunging lithium-ion battery prices, which are set to fall by more than 70% by 2030," according to BNEF's Electric Vehicle Outlook 2017.

EVs adoption and the need to find energy storage solutions will charge the battery race in the years and decades to come. The key question here is, will the battery design breakthroughs turn from lab tests into viable mass market energy options?