Cell Design and Materials: Li-Ion

Chemistry Lithium WH & AH Cost Map - Drive Towards Cheaper Batteries Current market conditions are demanding cheaper batteries for EVʼs at the same performance of modern day NMC811 batteries. Cost Drivers (see Costs Section for more information)

Cathode active material CAM) is major driver, accounting for 50% of the cell cost

Lithium Hydroxide LiOH) or Lithium Carbonate Li2CO3) accounts for > 50% of the CAM cost excluding processing/overhead Enabling Cheaper EVs

LFP is the near-term solution for achieving the lowest lithium cost per kWh

Beyond LFP, manufacturers will need to turn to advanced chemistries, such as lithium-sulfur LiS, to maintain Cathode cost reductions while improving performance. CELL COST BREAKDOWN

NMC811 COST BREAKDOWN Electrolyte 7%

Manufacturing Overhead 24%

LiOH 66%

LFP COST BREAKDOWN For more details, please visit: Battery Talk: Battery Application Break Down 1/01/2025 Version 3.0) Cost in USD

Anode 12%

Separator 4%

Cathode 51%

Li2CO3 68%

Casing 3% Source: Battery Official,Battery Report 2023 (pg 131), Battery Talk: Battery Application Break Down 12/31/2025 Version 3.0

Extracted from the PDF; charts and images may read imperfectly.