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ELECTRIC & HYBRID VEHICLE TECHNOLOGY JULY 2023: PAGE 46 Menu * Page View * Smart View * Issue List * Advertisers * Website * Feed GIGA FACTORIES The S ince the initial enthusiasm for gigafactories we have had a global pandemic, a supply chain crisis, a European war, an energy crisis, and widespread infl ation aff ecting investment in industry projects. However, for all that, the road to net zero is set and while there are di culties, such as with the supply of mineral resources used in battery chemistry, international and government will continue to drive investment in the electric century in which we live. The 1973 oil crisis highlighted energy security and diminishing fossil fuel resources. Since then, we have been moving towards more sustainable industry and transport accelerated by a growing awareness of climate change. This has meant a refi nement of battery storage science to enable the transition, mass production and integration with vehicle manufacture e ciently and cost-eff ectively. What next for gigafactories? Stephen Giff ord, chief economist at the Faraday Institution, refers to the aftermath of the pandemic, coupled with worldwide supply chain disruptions and an energy crisis, as creating a challenging short-term environment for the development of gigafactories: “These economic shocks have led to a surge in commodity prices, aff ecting the costs of battery production in the short to medium term.” However, he says the long-term outlook remains largely positive. While it is true that some companies with planned GWh scale battery cell production have either cancelled or stalled their plans, or fallen into liquidation, it was always expected that some projects would meet this fate. Benchmark Mineral Intelligence has seen the global gigafactory pipeline grow by 24 facilities in 2023, increasing pipeline capacity through to 2030 GIGA © KarachoBerlin -stock.adobe.com 46 // July 2023 // www.electrichybridvehicletechnology.com ISSUE ARTICLES THE GIGAFACTORY FACTOR FRANK MILLARD Visit Article. ISSUE LIST JULY 2023 MARCH 2023 NOVEMBER 2022 JULY 2022 MARCH 2022 NOVEMBER 2021 JULY 2021 MARCH 2021 NOVEMBER 2020 JULY 2020 Previous Next Library