$802 billion on the horizon: the current state of the EV market
Interchange Recharged
Wood Mackenzie
4.8 • 535 Ratings
🗓️ 26 March 2024
⏱️ 31 minutes
🧾️ Download transcript
Summary
New battery technology could get EV prices down and drive mass adoption
In this week’s episode of Wood Mackenzie’s The Interchange Recharged, we look at the rapidly evolving landscape of EVs and the battery technology that powers them. Market sentiment in the US is up and down; despite a 40% sales increase from the last quarter of 2022 to the same period in 2023, the industry is struggling with competition from China amid a price war. Batteries have a critical role to play in accelerating mass EV adoption and so their dramatic cost reduction - nearly 90% over the past 14 years – has potentially sparked an EV revolution.
Joining us is Haresh Kamath, an expert in energy storage and clean tech from the Electric Power Research Institute (EPRI). Together, they explore the nuances of battery economics, the potential of cutting-edge technologies like solid-state batteries and the imperative of developing efficient recycling methods to sustain this green momentum.
They examine the challenges of scaling EV infrastructure and supply chains, looking forward at the technologies that will continue to drive down costs and extend EV ranges.
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Transcript
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| 0:00.0 | Wood McKenzie's Solar Energy and Storage Summit is back in Denver on the 29th and 30th of April, |
| 0:06.2 | 2026. It's co-located with the brand new North American Power and Renewables Forum, |
| 0:11.9 | which features senior speakers from across the U.S. power sector. Come and join over 450 senior |
| 0:18.2 | leaders from U.S. power developers, utilities, and independent power producers |
| 0:23.3 | to tackle the industry's biggest challenges. From navigating life after tax credits to capturing |
| 0:29.7 | the load growth boom, discover how the energy mix is evolving and how the U.S. is going to meet |
| 0:34.9 | that power demand. Seats are limited, so register now at woodmack.com. |
| 0:40.0 | This is the interchange recharged. I'm David Banmiller. |
| 0:44.0 | We typically focus on the big stories and energy coming out of the U.S., |
| 0:48.0 | but a lot is happening in the Asia-Pacific region. |
| 0:50.7 | As we've seen around the world, fossil fuel demand is increasing |
| 0:54.0 | as countries prioritize energy |
| 0:55.8 | security over decarbonization efforts. The potential is there, however. More than $3 trillion |
| 1:00.9 | is expected to be pumped into renewable power generation over the next decade. How can Asia balance |
| 1:06.9 | energy security with investment into low-carbon technologies? On the 9th of May this year, Wood McKenzie's Energy and Natural Resources Summit returns to Singapore for its sixth year. |
| 1:17.6 | Join experts, speakers, and analysts from renewable utilities, transmission operators, investment entities and technology providers. |
| 1:25.6 | Join the conversation around Asia's renewable future. |
| 1:29.0 | What's needed to bring carbon capture into the mainstream? |
| 1:31.7 | How can the region balance growth with sustainability? |
| 1:34.6 | And how can the huge potential of wind and solar be delivered? |
| 1:37.8 | Visit woodmack.com slash events to find out more and secure your ticket. |
| 1:42.1 | Now, onto the show. |
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