A Bottom-Up Approach to Lithium-Ion Battery Cost Modeling with a Focus on Cathode Active Materials
AbstractIn this study, we develop a method for calculating electric vehicle lithium-ion battery pack performance and cost. To begin, we construct a model allowing for calculation of cell performance and material cost using a bottom-up approach starting with real-world material costs. It thus provides a supplement to existing models, which often begin with fixed cathode active material (CAM) prices that do not reflect raw metal price fluctuations. We collect and display data from the London Metal Exchange to show that such metal prices, in this case specifically cobalt and nickel, do indeed fluctuate and cannot be assumed to remain static or decrease consistently. We input this data into our model, which allows for a visualization of the effects of these metal price fluctuations on the prices of the CAMs. CAMs analyzed include various lithium transition metal oxide-type layered oxide (NMC and NCA) technologies, as well as cubic spinel oxide (LMO), high voltage spinel oxide (LNMO), and lithium metal phosphate (LFP). The calculated CAM costs are combined with additional cell component costs in order to calculate full cell costs, which are in turn scaled up to full battery pack costs. Economies of scale are accounted for separately for each cost fraction. View Full-Text
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Wentker, M.; Greenwood, M.; Leker, J. A Bottom-Up Approach to Lithium-Ion Battery Cost Modeling with a Focus on Cathode Active Materials. Energies 2019, 12, 504.
Wentker M, Greenwood M, Leker J. A Bottom-Up Approach to Lithium-Ion Battery Cost Modeling with a Focus on Cathode Active Materials. Energies. 2019; 12(3):504.Chicago/Turabian Style
Wentker, Marc; Greenwood, Matthew; Leker, Jens. 2019. "A Bottom-Up Approach to Lithium-Ion Battery Cost Modeling with a Focus on Cathode Active Materials." Energies 12, no. 3: 504.
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