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16% 10% 10% 16% NMC LCO NCA LMO LFP Figure 6 Projected Share of Different Li-Ion Battery Chemistries by 202526 Tables 5 and 6, taken from a presentation at an EV battery recycling business meeting in Norway in June, 2019, show the expected evolution of NMC battery chemistries from 2015 to 2030, reflecting a projected decrease in overall cobalt content. The projections show that while cathode chemistries will move to NMC622 and NMC811, overall li-ion batteries are still anticipated to contain about 3.2% cobalt on average by 2030. Table 5 Evolution of Lithium Battery Chemistries (2015-2030)27 48% 2015 2020 NMC 433 5% 19% NMC 622 2% 4% 2025 2030 20% 12% 15% 33% NMC 111 90% 60% 25% 17% NMC 532 3% 15% 30% 12% NMC 811 0% 2% 10% 26% Table 6 Evolution of Cobalt Content in Lithium Batteries (2015 – 2030) 28 2015 2020 2025 2030 In anticipation of increasing demand for NMC811 cathodes in the future, LG Chem and SK Innovation are 26 Zaheer, H. February 28, 2019. “Evolution of Li-ion Batteries: From the Garage to the Grid.”PDF Image | Reuse and Recycling of Batteries Employed in Electric Vehicles
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