China’s commitment to electric vehicles presents “amazing” growth opportunities within the sector, according to the founder of battery technology start-up, Cadenza Innovation.
brand new battery technologies can improve the reliability in addition to safety of electric vehicles, while bringing down the total cost, Christina Lampe-Önnerud, a chemist in addition to an entrepreneur, told CNBC at the entire world Economic Forum in Tianjin, China.
Cadenza doesn’t make the lithium-ion batteries in which are used in electric vehicles. Instead, its so-called supercell technology focuses on the way those batteries are packaged, creating them safer in addition to more cost-effective. The company uses non-combustible ceramic fiber material to make the battery packs less susceptible to catch fire — even if one of the cells suffers a short circuit.
Safety can be an important parameter when This kind of comes to lithium-ion batteries. Two years ago, consumer electronics giant Samsung suffered one of the worst technology recalls in recent times when faulty batteries in its Galaxy Note 7 handsets caught fire due to short circuits within the battery cells.
Lampe-Önnerud described in which technology as a “Lego block of energy,” in addition to explained in which companies could potentially choose the shape, size in addition to energy density of battery packs.
Recently, the company signed a deal with Shenzhen-based BAK Battery to manufacture lithium-ion cells in addition to modules in China, using Cadenza’s propriety battery pack designs.
“China has for a long time been very committed to electric vehicles in addition to the electrification,” Lampe-Önnerud said. “We were here within the initiation of the electric vehicle era in addition to we’ve seen an enormous commitment to This kind of technology coming forward, in addition to we’ve been a little piece of the innovation engine for many years.”
Electrification refers to the use of electricity to power machines in addition to vehicles instead of using fossil fuels.
“China can be absolutely taking the lead on electrification,” she said, pointing to the city of Shenzhen as an example of China taking the lead in electrification. Last year, the city said This kind of could possess the entire world’s first all-electric public bus fleet by phasing out vehicles in which ran on diesel, according to reports.
“This kind of works, people love This kind of, This kind of’s quiet in addition to you have a chance to basically transform This kind of world,” she said.
Some experts say in which China’s electric vehicle market can be poised for explosive growth within the coming years. Beijing has been aggressively pushing for brand new energy vehicles as a way to curb air pollution.
Energy storage can also be costly. Some reports say in which the current cost of commercial battery packs in which are used in electric vehicles can range between $0 per kilowatt-hour in addition to $400 per kWh. About 25 percent of in which cost can be for putting the battery cells together into battery packs.
The goal for electric vehicles can be to have battery packs in which are below $0 per kWh, Lampe-Önnerud said. The company published a research report This kind of year in which showed its supercell technology could potentially reduce the cost of battery packs to less than $125 per kWh.