Now widely reported, but possibly first by the Korea Herald, “Samsung SDI and Tesla Motors are in the final stage of signing a contract for the Korean firm to supply lithium ion batteries for the California-based electric carmaker”.
Panasonic currently supply batteries to Tesla, but with big ambitions; Tesla need more suppliers: batteries are still a bottle neck for electric vehicle manufacturers and reliance on few manufacturers is a major supply chain concern that could halt production.
According to Frost and Sullivan: “the EV Li-ion battery chemical and materials market is expected to grow at a compound annual growth rate (CAGR) of 125 per cent from 2010 to 2016.
Chemicals and materials suppliers in the EV batteries market can expect exponential growth, as major OEMs launch their EV range with a plan for commercial production.
All the major automotive manufacturers
are developing EVs — considered the next generation of vehicles and a means for original equipment manufacturers (OEMs) to differentiate themselves to stay ahead of the competition. Escalating oil prices
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