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Battery Megafactory Forecast: 400% Increase in Capacity to 1 TWh by 2028

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Battery Megafactory Forecast: 400% Increase in Capacity to 1 TWh by 2028

Battery Megafactory Forecast

The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

When ground broke on the massive Tesla Gigafactory in Nevada in 2014, the world marveled at the project’s audacity, size, and scope.

At the time, it was touted that the cutting-edge facility would be the largest building in the world by footprint, and that the Gigafactory would single-handedly be capable of doubling the world’s lithium-ion battery production capacity.

What many did not realize, however, is that although as ambitious and as forward-looking as the project sounded, the Gigafactory was just the start of a trend towards scale in the battery making space. While Tesla’s facility was the most publicized, it would ultimately be one of many massive factories in the global pipeline.

Mastering Scale

Today’s data comes to us from Benchmark Mineral Intelligence, and it forecasts that we will see a 399% increase in lithium-ion battery production capacity over the next decade – enough to pass the impressive 1 TWh milestone.

Here is a more detailed projection of how things will shape up in the coming decade:

RegionCapacity (GWh, 2018)Capacity (GWh, 2023)Capacity (GWh, 2028)
China134.5405631
Europe19.693.5207
North America20.981148
Other005
Asia (excl China)45.578.5111.5
Grand Total220.56581,102.5

In just a decade, lithium-ion battery megafactories around the world will have a combined production capacity equivalent to 22 Tesla Gigafactories!

The majority of this capacity will be located in China, which is projected to have 57% of the global total.

The Top Plants Globally

According to Benchmark, the top 10 megafactories will be combining for 299 GWh of capacity in 2023, which will be equal to almost half of the global production total.

Here are the top 10 plants, sorted by projected capacity:

RankMegafactoryOwnerCountryForecasted capacity by 2023 (GWh)
#1CATLContemporary Amperex Technology Co LtdChina50
#2Tesla Gigafactory 1Tesla Inc / Panasonic Corp (25%)US50
#3Nanjing LG Chem New Energy Battery Co., Ltd.LG ChemChina35
#4Nanjing LG Chem New Energy Battery Co., Ltd. Plant 2LG ChemChina28
#5Samsung SDI XianSamsung SDIChina25
#6Funeng TechnologyFuneng Technology (Ganzhou)China25
#7BYD , QinghaiBYD Co LtdChina24
#8LG Chem Wroclaw Energy Sp. z o.o.LG ChemPoland22
#9Samsung SDI KoreaSamsung SDIKorea20
#10LishenTianJin Lishen Battery Joint-Stock CO.,LTDChina20

Of the top 10 megafactory plants in 2023, the majority will be located in China – meanwhile, the U.S. (Tesla Gigafactory), South Korea (Samsung), and Poland (LG Chem) will be home to the rest.

Reaching economies of scale in lithium-ion battery production will be a significant step in decreasing the overall cost of electric vehicles, which are expected to surpass traditional vehicles in market share by 2038.

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Agriculture

Fertilizer: Why it’s More Important than You Think

Fertilizer usage dates back to as early as 6,000 to 2,400 BC and remains just as crucial for crop production today.

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The following content is sponsored by Brazil Potash


Fertilizer: Why It’s More Important Than You think

The global population is expected to reach nearly 10 billion people by 2050. So, in order to feed our growing world sustainably, increased crop production is essential.

Over recent decades, farmers have been able to more than double their production of crops thanks to fertilizers and the vital nutrients they contain. 

When crops are harvested, the essential nutrients are taken away with them to the dining table, resulting in the depletion of these nutrients in the soil. To replenish these nutrients, fertilizers are needed, and the cycle continues.

The above infographic by Brazil Potash shows the role that each macronutrient plays in growing healthy, high-yielding crops.

Food for Growth

Nitrogen, phosphorus, and potassium (NPK) are three primary macronutrients that are the building blocks of the global fertilizer industry. Each plays a key role in plant nutrition and promoting crop growth with higher yields. 

Let’s take a look at how each macronutrient affects plant growth.

NutrientWhy it’s needed?What does it do?What happens without it?
Nitrogen (N)Needed for the
formation of all plant
and animal proteins.
Nitrogen ensures that
energy is available
when and where it is
needed to maximize
yield and regulate
water and nutrient uptake.
Nitrogen deficiency in
crops causes stunted
and spindly plants, low
protein content in seed
and vegetative parts,
and fewer leaves.
Phosphorus (P)Vital for plant
photosynthesis.
Phosphorus allows
plants to convert the
sun’s energy into food,
fiber, and oil. It
improves how
efficiently the plant
absorbs water and
macronutrients such as nitrogen.
Phosphorus deficiency
causes stunted growth,
reduced crop yields,
low quality harvests,
and moisture stress.
Potassium (K)Essential for robust
high quality crops.
Potassium helps
regulate water pressure
in plant cells and
maximizes crop yields
by strengthening plant
stems to make them
more resilient to
drought, flooding, and
temperature swings.
Potassium deficiency
causes a slower growth
rate of plants, delayed
pollination and maturity,
underdeveloped leaves,
reduced crop yields,
weakened stalks, and moisture stress.

If crops lack NPK macronutrients, they become vulnerable to various stresses caused by weather conditions, pests, and diseases. Therefore, it is crucial to maintain a balance of all three macronutrients for the production of healthy, high-yielding crops.

The Importance of Fertilizers

Humans identified the importance of using fertilizers, such as manure, to nourish crops dating back to nearly 6,000 to 2,400 BC.

As agriculture became more intensive and large-scale, farmers began to experiment with different types of fertilizers. Today advanced chemical fertilizers are used across the globe to enhance global crop production. 

There are a myriad of factors that affect soil type, and so the farmable land must have a healthy balance of all three macronutrients to support high-yielding, healthy crops. Consequently, arable land around the world varies in the amount and type of fertilizer it needs. 

Fertilizers play an integral role in strengthening food security, and a supply of locally available fertilizer is needed in supporting global food systems in an ever-growing world.

Brazil is one of the largest exporters of agricultural goods in the world. However, the country is vulnerable as it relies on importing more than 95% of its potash to support crop growth.

Brazil Potash is developing a new potash project in Brazil to ensure a stable domestic source of this nutrient-rich fertilizer critical for global food security.

Click here to learn more about fertilizer and food production in Brazil.

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