Electric Vehicle EV: Graphite to ride the wave of massive EV battery production
Graphite is a soft black to steel-gray colored mineral formed naturally through the metamorphism of carbon-rich rock that leads to the formation of either crystalline flake graphite, fine grained amorphous graphite, or crystalline vein or lump graphite. It most commonly occurs in metamorphic rocks such as crystalline limestones, schists and gneisses.
Graphite has many industrial uses in lubricants, carbon brushes for electric motors, fire retardants, and steel making, to name a few. It’s usage in lithium ion batteries industry has been growing at over 20% per year due to the proliferation of cell phones, cameras, lap tops, power tools and other hand held devices. While the automotive industry has traditionally utilized graphite for brake linings, gaskets and clutch materials, of growing importance is its use in electric vehicle (EV) batteries.
Graphite is the anode material in the battery and there are no substitutes. More recently, the growth in hybrid and all-electric vehicles as well as grid storage have contributed to continued strong demand growth.
Many governments around the world are enacting legislation for the eventual demise of internal combustion engines. Auto makers are now gradually killing of gas and diesel-powered vehicles and going completely electric. There is up to 10 kilograms of graphite in the average HEV (hybrid) and up to 100 kilograms in an EV.
As range anxiety subsides and more charging stations pop up, car buyers are switching to EVs while various government subsidies have helped to shoulder more costly EVs. This has been particularly true in Norway where government incentives resulted in EVs now outselling internal combustion-powered vehicles.
Motor Trend magazine reported that they expect over a dozen new EV models will be joining the 20 models already on the market. Research firm IHS Markit expects that more than 100 auto companies will offer a battery electric option by 2025. IHS said that the EV market share could more than triple from 1.8% of U.S. registrations in 2020 to 9% in 2025 and 15% by 2030.
Motor Trend added that during 2020, some 2.5 million EVs were sold with China making 1.1 million of them, up 10% from 2019. The publication noted that in Europe EV sales are forecast to hit 19% by 2025 and 30% by 2020.
These EV sales forecasts represent a monumental shift in auto manufacturing. A little over a hundred years ago, gasoline-powered cars and EVs were vying for market share; however, the inexpensive, rugged and simple Model T won that race.
Today, we are on the cusp of a giant move to EVs and with flake graphite production needing to more than double by 2025 to satisfy increasing demand, graphite companies will be a major beneficiary.
Resource World Magazine |
