The dominant position of lithium-ion battery may be threatened due to frequent explosion accidents.

SMM4, March 25-another lithium-ion battery explosion, this time an energy storage plant in the United States, has occurred, according to Bloomberg. At least 21 fires broke out in South Korea due to lithium battery problems, according to Bloomberg New Energy Finance.

These explosions came at a bad time. If lithium prices plummet as a result, it would surely trigger turmoil in global markets.

Nowadays, lithium batteries have a cost advantage and can be compared with traditional energy storage equipment. So there has been a frenzy of widespread use of lithium-ion batteries, such as solar energy, which is being used by solar developers and households to store solar energy.

At the same time, the development of the global electric vehicle market has also entered the fast lane, especially in China.

The China Association of Automobile Manufacturers expects sales of electric vehicles in China to reach a record 1.6 million this year, up from 1.2 million in 2018 and accounting for about half of global sales.

Bloomberg also reported that 486electric car manufacturers are now registered in China, more than tripling the number the year before last.

But that may change after the explosion.

Logan Goldie-Scot, a financial analyst at Bloomberg New Energy, said that if this type of energy storage is judged to be unsafe, then billions of watts of storage deployment plans will be threatened.

Tesla car (Tesla Inc.) in China There is also widespread concern about self-exploding. Tesla said this week that he was investigating the cause of the accident.

The accident has become a potential selling point for Tesla's competitors

Jeff Chamberlain, chief executive of Volta Energy Technologies, a company that studies emerging energy storage technologies, says lithium-ion battery competitors now want to outperform lithium-ion batteries.

But they also need to realize that lithium-ion batteries are still a strong competitor. After all, lithium-ion batteries account for more than 85% of the global power deployment each year since 2016, and other technologies are potentially dangerous.

(note: this article is translated from Bloomberg. If you are concerned with copyright issues, please contact SMM. We will deal with them in a timely manner.)

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