US$802 billion on the horizon: the current state of the EV market

In this week’s episode of Wood Mackenzie’s The Interchange Recharged, host David Banmiller looks 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 David 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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