How Is KR 9.1 Tracking?
The world has an enormous demand for cheaper batteries, far beyond today’s supply.
Our Batteries key result calls for scaling production while lowering batteries’ cost from $115 per kilowatt hour to $80.
By itself, transitioning all new auto sales to EVs will require 10,000 gigawatt hours (GWh) of batteries. We turn out but a tiny fraction of that total today—and we’ll need at least another 10,000 GWh for electricity storage for the grid.
In short, the world is ravenous for batteries, and scale is hard to attain. To ramp up production by some orders of magnitude, we’ll need innovations in both materials and manufacturing.
Cutting costs is especially challenging. Demand for battery materials is rising, supplies are limited, and inflation is pushing prices higher. Even so, battery prices have dropped by 39 percent since 2019, in line with a net zero trajectory.