Competition for the Future 35 Terawatt-hour per Year Battery Market

On Tesla’s 2020 Battery Day, Elon Musk made the case that there will be a 35 terawatt-hour per year battery market if the world electrifies all vehicles and battery enables the entire electrical grid. Tesla has a goal of making 3 or more terawatt-hours per year of batteries by 2030.

The current combined goal of all other car companies is to make 400 gigawatt-hours of batteries per year by 2030. The current total of all other battery factory plans is about 2 terawatt-hours per year of battery capacity by 2030.

If Tesla is correct and there will be a future market of 35 terawatt-hours per year of batteries then a world with this level of battery demand by 2035 will only have Tesla and Asian battery (mainly China) companies making over 1 terawatt hour per year of batteries.

SOURCES- Electrified, Benchmark, Tesla
Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla)

Subscribe on Google News