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Demand underpins electric vehicle battery capacity and EV passenger vehicle projections

By VentureOutsource.com Staff

In the past five years, up until 2017, global manufacturing production capacity for lithium-ion battery cells has increased fivefold. Production capacity is expected to triple again by 2022 according to British Petroleum as demand for battery commodities continues to be driven by electric vehicles (EV) and growth in energy storage on the electric grid.

Commissioned lithium-ion battery cell* production capacity

For EV and plug-in hybrid vehicle numbers, the projected 7 million in total number of vehicles for 2020 is expected to be 95 million vehicles by 2030 and 324 million vehicles by 2040 for an annual growth of 21% over the 20 years to 2040. Note the staggering demand for China above. Source: International Energy Agency (IEA)

Electric passenger vehicle projections

Electric passenger vehicle projections are courtesy of British Petroleum.  This information also underpins the increasing demand for overall electronics in vehicles, including cable and wire assembly demand.

Automotive OEMs are also encouraged to closely follow demand for features and accompanying functions as electronics in cars come into play and the connected, smart car continues to evolve. And, with demand increases in plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) we the EMS industry will see increasing demand in EMS automotive services.

For automotive companies interested in finding quality, pre-qualified contract electronics providers serving the automotive industry you can find EMS providers by services and geography here.

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