Spinverse carried out an extensive study for Business Finland to assess the Finnish and European battery ecosystems, with focus on the current status of the battery industry.
“Finland is one of the few countries where all of the key minerals used in the production of lithium-ion batteries are found in the soil, and we possess strong expertise throughout the value chain. This means we have everything needed for the creation of an important battery ecosystem that will help us to create more added value for Finland,” says Petri Peltonen, Under-Secretary of State at the Ministry of Economic Affairs and Employment.
As batteries are increasingly recognized as key building blocks of the sustainable energy transition and major car makers are announcing their dedication to electric vehicles, the demand for batteries is booming: The global demand for lithium-ion batteries is estimated to reach 2 TWh by 2040, corresponding to 55 operational 35 GWh gigafactories. While the global competition in the battery market is intense, battery manufacturing capacity needs to be stepped up to ensure energy security and industry competitiveness in European countries.
How we reached the goals
The report made for Business Finland by Spinverse was done in collaboration with Gaia consulting. In the report processing stage, insights from about 130 experts in Finland and Europe were gathered and the study covered the whole value chain from raw materials, cells and batteries to various applications and recycling.
The importance of battery system management and optimization is emphasized as battery systems need to fulfil strict requirements for performance and lifetime in various operational environments.
Read more in Talouselämä March 29, 2019 (in Finnish)
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