The UK government has announced plans to bring forward its ICE ban to 2030 as it sets out a ten-point plan to usher in a ‘green’ industrial revolution. Having phased out coal-powered generation during the 2010s, the government is interested in developing new energy industries, with electric vehicles (EV) sitting at the core of its agenda.
The ‘Road-to-Zero’ strategy sets out a framework for zero-emissions, with transportation emissions being a serious issue requiring mitigation. And with Ultra-Low-Emission-Zones (ULEZ) now being introduced (prohibiting petrol or diesel vehicles under penalty of fines), switching to EVs is likely to become more of a requirement than a consumer choice.
Currently, the UK’s domestic supply chain has inadequate capacity to support mass EV adoption by the end of the decade and will require an investment of £15.05 billion in the next few years (source: Benchmark Minerals, 2019).
To meet this 2030 target, the UK will need to develop its lithium-ion cell production capacity and outline a raw material sourcing strategy to support it.
This is the market opportunity Evercharge Energy is addressing with the development of its high-capacity Li-ion battery.
We are concurrently also developing relationships with domestic chemicals’ manufacturers who are capable of supplying anode and cathode active materials in sufficient quantities needed to support a ‘giga-factory’ level operation to mass-produce these high-capacity LIB cells.