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NMC chemistries to dominate battery market

While lithium-ion batteries are expected to dominate the electric vehicle (EV) market, their cathode chemistries would dictate which energy metals benefitted most from the emergent market, new research by Fitch Group-unit Fitch Solutions Macro Research shows.

NMC chemistries to dominate battery market NMC chemistries to dominate battery market NMC chemistries to dominate battery market NMC chemistries to dominate battery market NMC chemistries to dominate battery market

A cutaway revealing the lithium-ion battery pack of a Nissan Leaf

Among the different chemistries currently used in batteries by EV manufacturers, lithium-nickel-manganese-cobalt oxide (NMC) is the most prevalent and seems set to see the fastest growth in new EV sales over the coming years.

This outlook was buoyed by their high energy density and reliability, Fitch analysts said.

Based on a sample size of 52 EVs, NMC cathodes currently accounted for about 28% of global EV sales and the fir...