How startups are racing to supply a $360 billion battery market

  • Batteries are essential for automakers as they power their groups with electricity for the next several years.
  • The battery industry is full of opportunities, from new technologies to sourcing and recycling.
  • Here’s a look at the many startups racing to lead the battery space.

The future of the auto industry depends, now more than ever, on batteries.

Batteries are critical in the multi-billion dollar plans to create a range of electric vehicles over the next several years. They matter because automakers seek to differentiate themselves and their offerings from one another. It is a critical factor as the industry seeks to abandon its gas- and carbon-neutral past – if it can be developed in efficient, cost-effective and environmentally sustainable ways.

The electric car battery market is very important, as it could reach at least $360 billion by 2030, according to McKinsey.

At Insider, we took a look at EV battery technologies that heat up. We’ve looked at how automakers can secure an adequate supply of batteries. And we’ve talked to startups that recycle these batteries well after they run out.

Below, you can read more about the battery startup to watch, the metal battery shortage the industry is facing, and how automakers are navigating this important part of their business. You can also read more about the types of battery technologies that are winning the industry.

Start to watch

Automakers and emerging electric vehicle manufacturers are counting on dozens of clothes in the battery space to help them out.

As a result, new start-ups are emerging to tackle different parts of the battery chain, from supply to new chemicals to recycling. These companies bring in a lot of capital these days as well.

Read more:

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Americas lithium

Securing an adequate supply of electric vehicle battery materials, especially lithium, is a top priority for auto executives. Startup Lithium Americas can help.

Americas lithium


The crisis in Ukraine has highlighted the impact that a shortage of a key metal battery – nickel – can have on the car business.

But cobalt and lithium have long been a pending crisis for the industry, too. Securing an adequate supply of these substances, especially lithium, is a top priority for auto executives. These executives need massive amounts of material at the right price that can be secured in an environmentally and financially responsible manner.

It’s not an easy task, and they need to do everything they can to get this part of the electric vehicle supply chain right.

Read more:

The electric car boom is creating a mad dash for lithium. Meet 13 startups looking to tap into a weak link in the supply chain that could soon be worth $34.3 billion.

Rising nickel prices could add $2,000 to the cost of each electric car — and the pain could hit Rivian and Lucid harder than Ford and GM

Battery makers are critical to automakers transitioning to electric vehicles. Take a look at the planned 10-page presentation that convinced Renault to support a single $119 million round of funding for a startup.

A Rivian vehicle battery pack on the floor of its Normal Illinois factory

The CEO of Rivian, for example, warned that the impending battery shortage would make the chip shortage look like a “little aperitif.”


How automakers commute to work

Automakers around the world are betting their entire future on electric products. But that future is under threat from the pending EV battery shortage.

Some are seeking partnerships to secure adequate supplies. Some are making huge investments in space. Some believe their approach to batteries can help them push past range records so far. And some fear that the impact of this shortage will get worse.

Read more:

Rivian CEO warns that impending electric vehicle battery shortages will make chip shortages look like ‘little appetizers’ for what’s to come

Elon Musk said he’s not working on the $25,000 electric car right now. This means that the competitor Lucid may outperform Tesla.

Lucid CEO reveals how his startup snagged Tesla in the electric car range wars: ‘It’s almost not about the battery’

Sufficient battery swap

Startup Ample says its battery technology could solve Uber’s biggest challenge in the electric vehicle space.


Specific battery technologies

Range anxiety is one reason customers are reluctant to switch to electric. But battery chemistry and technology can help boost range, performance, and even vehicle safety. So startups in the space are testing out the best technologies that can give their product — and their customers — a boost.

From solid-state installations to battery swaps to technology that claims to double Tesla’s range, startups are striving in every way to gain a competitive advantage in the business.

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Read the rundown of 11 startup Limal slides used to raise $8 million to help electric car makers avoid costly battery recalls — and move forward with Tesla

Startup that says it cracked the electric car battery code prepares to help automakers master a nasty challenge: a faltering supply chain

Uber’s biggest electric car problem can be solved by the startup that took home $50 million from Blackstone this year

A Michigan startup has doubled Tesla’s range by customizing it with a special battery

How solid-state batteries can break down lithium-ion, according to an executive at a Ford and BMW-backed startup.

A leading battery startup has just hired a veteran Tesla expert to lead manufacturing. Here’s her plan to take control of electric vehicles.

Startup founders reveal their plan to solve a critical cost problem in the electric car industry by remanufacturing the lithium-ion battery