![Lithium-ion battery technology investment to hit record in 2019: WoodMac](https://www.eqmagpro.com/wp-content/uploads/2019/10/Lithium-ion-battery-technology-investment-to-hit-record-in-2019-WoodMac.jpg)
Lithium-ion battery technology investment to hit record in 2019: WoodMac
0
0
![](https://www.eqmagpro.com/wp-content/uploads/2019/10/1328737542-9.png)
More than $350 million was invested during the first half of 2019 compared with just over $600 million for all of 2018
LONDON: * Consultants Wood Mackenzie expect 2019 to be a record year for investment in lithium-ion battery technology
* More than $350 million was invested during the first half of 2019 compared with just over $600 million for all of 2018
* Investments have focused on developing batteries that are cobalt-free and use alternate electrode materials or solid-state electrolytes
* Nickel-manganese-cobalt oxide (NMC) batteries outperform lithium iron-phosphate (LFP) batteries in terms of energy density, but the storage market is seeing a lot more interest in LFP
* Planned battery manufacturing capacity expansions are expected to grow to more than 770 gigawatt hours (GWh) by 2026.