Panasonic is to Make New Lithium Ion Batteries Without Raising Cobalt

- Jun 23, 2018-

Panasonic is to Make New Lithium Ion Batteries Without Raising Cobalt

"As the prices of lithium ion batteries have risen in recent years and the popularity of electric cars is expected to eventually lead to a shortage of cobalt, top battery makers are competing to reduce cobalt content in lithium - ion batteries," the Reuters said.

Panasonic is expected to be in a shortage of cobalt. The price of cobalt has risen two times in the past two years, according to Streetwise data.

Panasonic Corp said on Wednesday that under the background of soaring prices of key raw materials, the company's goal is to develop vehicle batteries without cobalt.

Scientists and venture capitalists from the United States and Japan are working to develop solid state lithium batteries, which will mainly benefit the automotive and truck industries. Solid state lithium batteries may not need cobalt at all, but so far, the production process and cost control of solid state lithium batteries are far from mature.

The benchmark mineral company estimates that the amount of cobalt consumed by lithium ion batteries will increase by three times from now to 2026, as the demand for electric vehicles for lithium ion batteries will promote the development of the industry throughout the period. Although we are trying to reduce dependence on cobalt, sales will increase far more than this reduction trend.