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China’s electric-vehicle market is offering a tentative challenge to the shift toward batteries with no nickel or cobalt.
“It seems to be a strategic play to keep NMC alive for longer and offer a differentiated product for both the domestic and export markets,” said Aaron Wade, head of battery costs at CRU Group. NMC stands for nickel-manganese-cobalt, the main type of nickel-bearing cell. But since then, prices for the metals have collapsed. LG Energy, the South Korean battery maker, said mid-nickel, high-voltage batteries could bring down costs by 10%, with enhanced energy density and thermal stability.“A few years ago, it was the expectation that mid-nickel cathodes would be all but replaced in the coming years,” said Iola Hughes, head of research at consultancy Rho Motion. “Now the low cobalt price and safety concerns with high-nickel have slowed this transition dramatically.
Historically, mid-nickel chemistry could only operate at lower voltage levels relative to high nickel. But a number of technical changes have enabled this type of battery to operate more safely and sustainably at higher voltages.
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