Follow PSR’s team of analysts as they track the rapidly expanding global battery electric power market, including, battery technology, transportation, eMobility, mergers and acquisitions and more.
At 27%, the transport industry is the largest contributor to greenhouse gases in North America and Europe and within the transport sector, passenger cars contribute the most emissions followed by medium and heavy-duty trucks which contribute emissions at around 26% of the transportation industry. The move to reduce or eliminate emissions is one of the biggest priorities within the industry.
In a first, Ideanomics has announced that it successfully tested WAVE’s 500kW ultra-fast wireless charger at the Port of Los Angeles, which can charge class 8 electric trucks in less than 15 minutes. Installation of the wireless electric chargers is already underway at the Port of LA, and Ideanomics expects the first chargers to be ready for use in 2023
An international group of researchers has demonstrated an aqueous zinc battery with excellent performance in terms of capacity, rate capability, specific energy, and output voltage. The battery is a hybrid supercapacitor-battery hybrid device which has demonstrated an unprecedented cycling stability of 99.2% capacity retention after 17,000 cycles at 100% depth of discharge.
This battery technology has been explored as a promising alternative due to its low cost, safety, environmental friendliness, and intrinsic non-flammable nature. However, their widespread adoption has been held back by their low Coulombic efficiency (The Coulomb efficiency is usually used to describe the released battery capacity. It refers to the ratio of the discharge capacity after the full charge and the charging capacity of the same cycle) and the notorious dendritic growth (dendrites are basically whiskers of minerals that grow inside batteries and can cause the devices they’re powering to lose power more quickly, short out, or in some instances, catch fire ) at the zinc-based anodes, along with the fast capacity fading of the cathodes.
Hydrogen fuel cells are still a bit mysterious and likely are unattainable in the near future, but you can actually buy them right now, whether in vehicles or as parts. To demonstrate how practical they are, Alfonso Delgado Ollero built a miniature hydrogen fuel cell to power an RC truck.
The practical concerns of producing the hydrogen in the first place and the energy density being relatively low are relevant when talking about the future of the automotive industry, but according to Alfonso Delgado Ollero, they shouldn’t prevent makers from experimenting with hydrogen fuel cells.
The September 2022 issue of the Alternative Power Report from PSR discusses Cummins new energy storage system, battery electric forecasts and EV shipping applications. PSR
With the exception of 2022 (+7.6%), Battery Electric as a power source is expected to grow between 10% and 17% throughout the forecast period, while ICE growth rates start the period at -2.3% and then grow at less than 1% for 2023 to 2025.
Battery Electric is expected to grow from 12.8% of the market in 2022 to 21.2% by 2027, while during the same period ICEs are expected to decline from 85% of the market to 75%. PSR
Guy Youngs is Forecast & Adoption LeadAnalyst at Power Systems Research
Consumer adoption of EVs has gathered momentum this year, spurred by higher global oil prices. The Russia-Ukraine war has made EVs suddenly more appealing to many car buyers, accelerating adoption globally. The higher oil prices are driving EVs closer to cost parity with internal combustion engine (ICE) vehicles. In Bloomberg New Energy Finance’s most recent Electric Vehicles Outlook 2022 report, it projected EV sales to hit 20.6 million units by 2025.
On Tesla’s most recent earnings call, Elon Musk admitted, “We do not have a demand problem but a production problem.” Other car manufacturers such as Ford, for instance, says it can build its F150 Lightning and the Mustang Mach E fast enough to keep up with demand
Cummins $24 million stake in the startup VoltStorage gives them a foot in the door with new iron redox flow technology. There is nothing wrong with lithium-ion energy storage but global demand for energy storage has nowhere to go but up, and so are lithium prices. While lithium is relatively abundant in the ground, but current supply is falling behind demand. At the same time, lithium extraction is messy and has significant environmental impact, causing local opposition to new mines and other facilities which could stall development. Aside from accessing a recyclable supply chain that can avoid conflict issues, flow battery fans note a long list of advantages over lithium-ion technology including lower cost, longer duration, and ease of scalability
PSR Analysis: Cummins has been making investments into EVs (such as the purchase of Brammo in 2017 and Meritor in 2022) for some time and this low cost, long duration, grid scale energy storage battery is part of their plan. This diversifies their portfolio of alternative power systems and helps them in the gid scale storage market. One of the major advantages for flow batteries is that they aren’t lithium-based and are therefore not subject to the same massive and sustained price increases that lithium material is seeing. PSR
Guy Youngs is Forecast & Adoption LeadAnalyst at Power Systems Research
Researchers from the University of California, Berkeley, and Lawrence Berkeley National Laboratory have released a study which examines “the technical outlook, economic feasibility, and environmental impact of battery-electric containerships.” By modelling 5 to 10 GWh electrified containerships, they found that 40% of routes today could be electrified in an economically viable manner, before considering environmental costs.
Using only technology available for purchase today, nearly all ships with routes shorter than 2,000 kilometres are economically advantageous, and ships with routes as long as 3,000km are economically viable.
PSR Analysis: Ships transport more than 10 billion metric tons of cargo each year, including clothing, electronics, and oil, and almost all of these ships run on fossil fuels, so they emit a lot of carbon pollution. Maritime shipping causes about 3% of global greenhouse gas emissions. As the costs of large ICE containerships continue to rise electrified containerships become increasingly cost effective. Electrified containerships are 80% more efficient than their ICE counterparts, and use 30% less energy overall. PSR
Guy Youngs is Forecast & Adoption LeadAnalyst at Power Systems Research
On Sept. 13, 2022, Honda announced it will eliminate gasoline-powered motorcycles by the mid-2040s. All new vehicles will be EV motorcycles; 3.5 million, or 15% of global sales, are to be EV motorcycles by 2030. Honda has already declared that all its four-wheeled vehicles will be EVs by 2040, but this is the first time the company has laid out a concrete strategy for decarbonization on two wheels.
From now on, Honda will pursue electrification exclusively with EVs. First, it will launch at least 10 EV motorcycle models by 2025. Since investment in new vehicle development and production facilities will be a heavy burden, Honda will use a common platform for batteries, motors, and other components for three large motorcycle models to be launched in Japan, the United States, and Europe between 2024 and 2025.
The commercial industry will grow with trucks and buses expected to do well. Truck sales will improve as many industries require more units as they are running at full capacity
The Indian economy managed to revive itself during the first and second COVID waves and quickly achieved a V-shaped recovery.
This year, GST is reaching high levels. GST collection has witnessed a growth of 26% YoY – YTD CY22. Furthermore, the generation of e-way bills is increasing rapidly. The generation of e-way bills is directly proportional to truck utilization and drives vehicle demand.
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