Chemicals & Materials are Key to the Success of Electric Vehicles


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  • This chart illustrates the global scenario of demand for electric vehicles. We have adopted scenario analysis to illustrate different market situations- Green line  conservative estimates; Red line  Optimistic estimate; Blue line  F&S or realistic estimate of the EV sales volumes Frost & Sullivan expects a potential of EV unit shipment sales to notch up to 2.2 million globally by 2017. BY 2020, EVs are likely to account more than 7% of the transportation market F&S believes that there is a huge potential for electric vehicles and thus the gap between the optimistic and F&S lines have been converging. For example, 1 year ago, there were about 80 electric vehicles announced by OEMs (small & big) and today there are about a 130 EVs announced till 2017 which means that there have been 50 new models announced globally in 2010! This is significant! Key Drivers impacting the growth of electric vehicles are: Social, cultural and ecological trends- A key example of it is the development of megacties- Mega-cities (how joberg and pretoria is combining into one big megacity) , de-urbanization (the city is expanding and thus satellite towns are built around the city) Government attitude and subsidies for EV consumers- UK (GBP 5,500), USA ($7,500), China (~$7,000) and Japan (~$2,500) Development of EV infrastructure (French government investing Euro 1.5B to set up charging infrastructure network, Effort in UK- London to have 25,000 charging station, 1,3000 charing stations in North East by 2013, etc) Partnerships and co-operations to commercialize EVs are taking place on a global scale (Example- Renault-Nissan has about 40 such partnerships) Increase in consumer willingness to buy electric vehicles
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  • Chemicals & Materials are Key to the Success of Electric Vehicles

    1. 1. Chemicals & Materials are the Key to the Future Success of Electric Vehicles Brian Balmer, Industry Principal Robert Outram, Research Program Manager Chemicals & Materials in Transportation
    2. 2. Highlights <ul><li>Introduction to Electric Vehicles </li></ul><ul><li>Electric Vehicle Market & Forecast </li></ul><ul><li>Drivers & Restraints </li></ul><ul><li>Regional Analysis </li></ul><ul><li>EV Batteries Market Forecast </li></ul><ul><li>Value Chain </li></ul><ul><li>Project Case Studies </li></ul>
    3. 3. The Context The need to enhance functionality & performance Globalisation of people, products and processes Development of a low carbon economy Improvements in health & wellness Construction & Utilities Food, Drugs & Cosmetics Transportation Chemicals & Materials
    4. 4. Mega Trends Create Opportunities and Threats for Chemicals and Materials Primary research through the global value chain, technology and legislation drivers, qualitative and quantitative analysis Drive to lower CO 2 emissions Urbanisation Globalisation Growth in electric vehicles New OEMs emerging Smaller, lighter, greener vehicles High speed rail 50% of automobile sales from BRIC Opportunities for: Polymers Battery materials and chemicals Green fuels and lubricants Advanced adhesives Threats to: Metals Metal treatment & coating Glass Additives for fossil fuels Mega Trends Transportation Trends Impact for Chemicals and Materials Mega Trends Transportation Trends Impact for Chemicals and Materials <ul><li>Drive to lower CO 2 emissions </li></ul><ul><li>Urbanisation </li></ul><ul><li>Globalisation </li></ul><ul><li>Growth in electric vehicles </li></ul><ul><li>New OEMs emerging </li></ul><ul><li>Smaller, lighter, greener vehicles </li></ul><ul><li>High speed rail </li></ul><ul><li>50% of automobile sales from BRIC </li></ul><ul><li>Opportunities for: </li></ul><ul><li>Polymers </li></ul><ul><li>Battery materials and chemicals </li></ul><ul><li>Green fuels and lubricants </li></ul><ul><li>Advanced adhesives </li></ul><ul><li>Threats to: </li></ul><ul><li>Metals </li></ul><ul><li>Metal treatment & coating </li></ul><ul><li>Glass </li></ul><ul><li>Additives for fossil fuels </li></ul>
    5. 5. Electric Vehicles –Battery Chemicals to be One of the Key Factors Enabling the EV Revolution EV Market: Opportunities for Chemicals and Materials (World), 2010-2016
    6. 6. Electric Vehicles and Material Demands Vary by Category Electric Vehicles Electric vehicles use electric motors instead of an internal combustion engine (ICE) to propel a vehicle. The electric power is derived from a battery of one of several chemistries , including lead acid, nickel metal hydride (NiMH) and lithium-ion (Li-ion). Neighborhood Electric Vehicles (NEVs) NEV is a US Department of Transportation (DOT) classification for vehicles weighing less than 3,000 lbs (GVW) and having a top speed of 25 mph. NEVs are restricted to run on streets where the speed limit is 35 mph or less. A city car is a European classification for small and light vehicles intended for use in urban areas although they can operate in mixed city/highway environment. In Japan, city cars are called kei cars. Extended-range Electric Vehicles (eREVs) These are plug-in hybrid electric vehicles (PHEVs) with an ICE or other secondary sources connected to a generator to supply power to batteries. Their drive range and speeds are comparable to those of ICE vehicles. High-performance Electric Vehicles (HPEVs) These are sporty PHEVs or battery electric vehicles with top speeds exceeding 100 mph and driving range exceeding 100 miles. Their price is expected to reach or exceed $100,000 GEM e2, e4 and e6, REVA G-Wiz I, ZENN, ZAP etc Smart EV, Th!nk City, BMW Mini and others Chevy Volt, Toyota Prius PHEV, Chrysler Sedan and others Tesla, Venturi’s Fetish and Lightning GT City Electric Vehicles (CEVs)
    7. 7. Global Electric Vehicle Demand Analysis – Potential Sales of 2.2 M in Frost & Sullivan Scenario by 2017 Electric Vehicle Market: Sales Forecasts Scenario Analysis (World), 2009-2017 Note: All figures are rounded; the base year is 2009. Source: Frost & Sullivan Scenario's 2009 2010 2011 2012 2013 2014 2015 2016 2017 2020 (% of Total Car Sales) Optimistic Scenario 4,500 23,100 123,800 289,500 665,000 1060,400 1,714,500 2,220,300 3,202,000 10-12% F&S Scenario 4,500 16,500 72,000 193,000 453,000 792,000 1,287,500 1,736,000 2,203,000 5-7% Conservative Scenario 4,500 13,500 35,600 82,500 150,300 195,100 300,500 450,000 670,000 3-4%
    8. 8. EV Breakdown By Region - CEVs to Account for 69% Share In Europe; NA to Witness More PHEVs with a 35% Share 64% 22% 10% 69% 22% 1% 2% 49% 35% 3% 2% 2.2 Million 60% 28% 3% 1% 2009 2017 4,500 7% 7% 83% 2% 63% 20% 11% 1% <ul><li>Japan and China are the key markets for APAC=> likely 80% market share. China expects major share from the local OEMs and potential for strong growth in India. </li></ul><ul><li>eREV and PHEVs likely to account major share in the North American market driven by the virtue of demographics and customer driving characteristics => GM & Chrysler OEMs for eREVs. On the other hand, CEVs suit the demographics for the Europe. </li></ul>4% 6% 11% 8% EV Breakdown By Region – Sales Estimates (World), 2017 Note: All figures are rounded; the base year is 2009 Source: Frost & Sullivan 5% Unit Shipments
    9. 9. Value is Driven by the Cathode and Separators but Binders and Laminate Resins are a Less Technical Way to Enter the Market Laminates They hold the contents of the cell together. They consist of aluminum coated with PET resins to impart chemical resistance. Corrosive chemicals are the biggest challenge to construction <ul><li>Separators </li></ul><ul><li>They form a critical structural element, which is constructed of polymer films or ceramics. They act as a reservoir for electrode active materials and separate the cathode from the anode. </li></ul><ul><li>PP based seperaters are the most commonly used EV battery material. </li></ul><ul><li>Multilayers sperators are also gaining ground. </li></ul><ul><li>Newer technologies are emerging such as Aramid based technology and PVDF which offers high temerature stability </li></ul>Anode Active Material It plays a major role in energy generation and is dominated by carbon-based technologies. Cathode Active Material Technology developments in a battery are mainly related to this material, and it accounts for a major share of the total cost of the system. Binders These are typically high-temperature polymers such as PVDF, which are used to make a slurry of electrode active materials before being coated on to current collectors. Electrolytes Electrolyte systems act as a carrier of ions between electrodes. Electrolytes are typically Lithium salts such as Li PF6 dissolved in EC or DEC solvents
    10. 10. Technology Improvements and Grants Drive the Market High Costs and Performance Restrain the Market Improvements demanded in battery performance in terms of energy, power density and charging frequency Note: Length of the arrows indicate the degree of impact of the factor. Source: Frost & Sullivan Total EV Batteries Market: Market Drivers and Restraints (World), 2010-2016 Government initiatives to accelerate R&D and market growth Environmental sustainability being the key trend in the transportation industry Need to reduce the dependency on oil driving investment in alternative propulsion technologies Introduction of novel technologies and entry of new suppliers in the growing Europe and US markets High cost Need to prove and test the safety aspects of emerging battery technologies Battery technology
    11. 11. Company Technology Location <ul><ul><ul><li>Electrolyte </li></ul></ul></ul>DOE Grant ($ Million) <ul><li>Elyria, Ohio </li></ul><ul><li>24.6 </li></ul><ul><li>Production of nickel-cobalt-metal cathode materials for Li - ion batteries </li></ul><ul><ul><ul><li>Anode </li></ul></ul></ul><ul><ul><ul><li>Separators </li></ul></ul></ul>US DOE’s Grants for Lithium-ion Battery and Component Manufacturers DOE Grants are Excellent Sources of Plant Capital <ul><li>BASF Catalysts LLC </li></ul><ul><li>Albany, Orlando </li></ul><ul><li>Production of high - energy density nano-carbons </li></ul><ul><li>EnerG2, Inc. </li></ul><ul><li>21.0 </li></ul><ul><li>Goose Creek, South Carolina </li></ul><ul><li>Toda America </li></ul><ul><li>35.0 </li></ul><ul><li>Production of nickel-cobalt-metal cathode materials for Li - ion batteries </li></ul><ul><li>Silver Peak, Nevada </li></ul><ul><li>Chemetall Foote Corp. </li></ul><ul><li>28.4 </li></ul><ul><li>Production of lithium carbonate and lithium hydroxide </li></ul><ul><li>Sanborn, New York </li></ul><ul><li>Pyrotek, Inc </li></ul><ul><li>11.3 </li></ul><ul><li>Production of lithium carbonate and lithium hydroxide </li></ul><ul><li>Buffalo, New York </li></ul><ul><li>27.3 </li></ul><ul><li>Production of LiPF6 salt for Li - ion batteries </li></ul><ul><li>Honeywell International </li></ul><ul><li>Zachary, Los Angeles </li></ul><ul><li>20.6 </li></ul><ul><li>Electrolyte production </li></ul><ul><li>Novolyte Technologies </li></ul><ul><li>Charlotte, North Carolina </li></ul><ul><li>Celgard, LLC </li></ul><ul><li>49.2 </li></ul><ul><li>Production of polymer separators for Li - ion batteries </li></ul><ul><ul><ul><li>Cathode </li></ul></ul></ul><ul><ul><ul><li>Electrode Active Materials </li></ul></ul></ul>
    12. 12. Infrasturucture and Value Chain Still to Fully Develop <ul><li>Development of manufacturing infrastructure across the industry </li></ul><ul><li>Building relationships with suppliers </li></ul><ul><li>Building relationships with end users </li></ul><ul><li>Managing the trade-off between safety, performance and economics </li></ul><ul><li>Developing a global presence </li></ul><ul><li>Increasing battery life to match vehicle life </li></ul>EV Battery Chemicals and Materials Key Industry Challenges
    13. 13. Geographic Analysis of the Total Market <ul><li>Currently, Asia is the key region driving the demand for chemicals and materials in EV batteries, accounting for more than 80 per cent of the existing global demand. </li></ul><ul><ul><li>Within Asia, the major technology hubs are in Japan and South Korea, though China is emerging as a strong manufacturing location as well. </li></ul></ul><ul><li>Most of the leading market participants in the individual component segments such as separators, electrolytes and electrode active materials are based in Japan. </li></ul><ul><li>This is largely because of the intense outsourcing of battery production which happened in the beginning of this millennium, following the shifting of electronics manufacturing base to countries with low production costs. </li></ul><ul><li>Even in the batteries market, some of the leading participants such as A123 have their manufacturing facilities in China and South Korea. </li></ul>Major Locations of Chemical and Material Suppliers to the EV Batteries Market in Asia
    14. 14. <ul><li>The United States and Europe will emerge as the significant markets for EV battery chemicals, due to government initiatives to promote many companies to set up production facilities in these regions. </li></ul><ul><li>Europe is also witnessing rapid development, which is signified by Nissan’s announcement to develop its electric cars in the United Kingdom. </li></ul><ul><li>Restrictions on air shipment of certain chemicals such as electrolytes, due to their inflammability, demand local production of such chemicals. </li></ul><ul><ul><li>These production facilities will, therefore, be set up in locations such as the United States and Europe where there is a huge end-user base.? </li></ul></ul><ul><li>GM and Chrysler are in the advanced stages of their EV rollout in the United States. Companies such as Daimler, PSA and BMW have major bases in Europe. These developments will foster the growth of the whole supply chain in these regions. </li></ul>Geographic Analysis of the Total Market (Contd…)
    15. 15. High Growth Market but from a Small Base Note: All figures are rounded; the base year is 2009. Source: Frost & Sullivan CAGR (2009-2016): 125.0% Revenue Growth Rate (%) Revenues ($ Million) Revenues ($ million) Revenue Growth Rate (%) EV LIB Market: Revenue Forecasts (World), 2008-2016 Year Year Revenues ($ Million) Revenue Growth Rate (%) 2008 12.1 - 2009 22.3 85.0 2010 104.1 367.0 2011 262.2 152.0 2012 1,030.1 293.0 2013 1,891.4 84.0 2014 2,995.8 58.0 2015 4,515.8 51.0 2016 6,450.3 43.0
    16. 16. Distinct Functions in Value Chain but Lots of Vertical Integration Source: Frost & Sullivan Total EV Batteries Market: Value Chain (World), 2009 OEMs GM and Ford Battery Pack Integrators Johnson Controls and NEC Battery Cell Producers A123, LG Chem, Saft and Toshiba Chemical and Material Suppliers Celgard, Tonen Chemicals, Merck, Dow Europe and BASF Raw Materials Lithium Metal and Polymers Chemetall, FMC Lithium and Arkema Processed Inputs Lithium Salts and Solvents Honeywell, Stella Chemifa, Kanto Denka Kogyo and Morita Chemicals and Materials Electrolytes, Electrode Active Materials, Separators and Collectors
    17. 17. Value Chain Analysis: Hitachi presents an excellent case study of a highly integrated participant in the EV lithium-ion battery anode materials market. Battery Systems Module and Control Systems Battery Pack and Cell High - performance Materials Processing Equipment <ul><li>Coating and dispersion technologies for the high-speed production of electrodes were developed by Hitachi Maxell. Other divisions such as Hitachi Plant Technologies also have a role in process design. </li></ul><ul><li>It is the market leader in carbon anode materials . It also has capabilities of supplying high-purity copper foil to electrodes. </li></ul><ul><li>The active material is supplied as a powder to cell manufacturers that, in turn, mix it with the binder and coat it on to the electrode metal foil. </li></ul>Started Battery production through subsidiaries such as Hitachi Vehicle Energy (HVE). HVE was established in 2004 to develop lithium-ion batteries for use in HEVs. The company has already sold 600,000 batteries in this market. Apart from battery systems, it also offers inverters and motors for HEV applications. Source: Frost & Sullivan EV LIB Anode Materials Market: Value Chain Analysis (World), 2008-2016
    18. 18. Lithium Ion is Ideal Due to High Power Density <ul><li>The choice of battery material involves a trade-off between power, energy and safety. </li></ul><ul><li>The type of battery used and battery chemistry are different in EVs, HEVs and PHEVs. </li></ul><ul><li>In HEVs, the presence of ICE means that the range of the vehicle is not as important as its power. </li></ul><ul><ul><li>This creates opportunities for batteries with lower energy densities such as nickel metal hydride (NiMH). </li></ul></ul><ul><li>However, in EVs, battery capacity is a very critical factor for the vehicle to cover longer distances between recharges. </li></ul><ul><ul><li>This requires much high performance from the batteries, thereby creating opportunities for Li-ion battery technologies. </li></ul></ul><ul><ul><li>Li-ion batteries are also expected to substitute NiMH batteries in HEVs largely in the long term of the forecast period. </li></ul></ul>Source: mpoweruk Energy Densities of Major Battery Chemicals
    19. 19. Technology Trends: Different chemistries are competing for adoption in the EV lithium-ion battery cathode materials market. Source: Frost & Sullivan EV LIB Cathode Materials Market: Technology Trends (World), 2009
    20. 20. Power & Energy Density are the Holy Grail Source: <ul><li>Attributes that Deliver Market Value </li></ul><ul><li>Increase Power Density </li></ul><ul><li>Increase Energy Density </li></ul><ul><li>Longer Battery Life </li></ul><ul><li>Shorter Charge Time </li></ul><ul><li>Lighter Weight </li></ul><ul><li>Lower Manufacturing Cost </li></ul>Methanol fuel cells can potentially be refilled faster than charging a battery. Supercapacitors have charge stored as electrical energy already available to be dissipated on demand – high power density Energy Density
    21. 21. Laminates for Outer Covering of Lithium-ion Batteries <ul><li>Although the laminates that are used to bind the contents of the cell appear to be a simple ‘coffee bag’ type of packaging, they are one of the critical structural elements in a lithium-ion battery. </li></ul><ul><li>Currently, only two companies supply these globally on a commercial basis. </li></ul><ul><ul><li>Dai Nippon Printing is the leader with a market share of 70 per cent. </li></ul></ul><ul><ul><li>The rest of the market is accounted for by Showa Denko. </li></ul></ul><ul><li>One of the main technical challenges for laminates is to withstand the highly corrosive electrode materials and electrolyte, which can quickly degrade them. </li></ul><ul><ul><li>Other critical physical properties include gas barrier, heat resistance and workability. </li></ul></ul><ul><li>Dai Nippon Printing has patented its process for laminate production, which involves the usage of a soft aluminium foil as the gas barrier and has an inner resin coating layer to provide the laminate with the necessary chemical resistance. </li></ul><ul><li>Major companies in the aluminium packaging industry are targeting this lucrative market, and they are expected to enter into it in the medium-to-long term of the forecast period. </li></ul>Source: Showa Denko
    22. 22. Binders for Electrode Materials <ul><li>Binder resins are used in electrode construction in lithium-ion batteries. </li></ul><ul><li>These are used to make a slurry of the electrode active materials, which is then coated on to current collectors. </li></ul><ul><li>Some of the key requirements for chemicals to act as binders include the following: </li></ul><ul><ul><li>High purity levels </li></ul></ul><ul><ul><li>Thermal resistance </li></ul></ul><ul><ul><li>Resistance to solvents in electrolytes </li></ul></ul><ul><ul><li>Excellent adhesion of electrode active materials and collectors </li></ul></ul><ul><ul><li>Processability </li></ul></ul><ul><li>Polyvinylidene fluoride (PVDF) is one of the most commonly used binders in EV batteries. </li></ul><ul><li>Leading participants in this market include Kureha of Japan and Arkema. </li></ul><ul><li>PVDF suppliers are also planning to develop separators out of their films. </li></ul>
    23. 23. Separator Materials for EV Lithium-ion Batteries Market Overview <ul><li>What Makes a Good Separator? </li></ul><ul><li>Separate the anode and cathode, sustain ionic conduction and act as a reservoir for the electrolyte. </li></ul><ul><li>Low acid solubility, good oxidation resistance and low electrical resistance. </li></ul><ul><li>High porosity and low thickness of the separator enable better permeability of lithium ions and, thereby, generate more energy. </li></ul><ul><li>Good mechanical strength to prevent run-aways </li></ul>Source: Evonik Ceramic Separion Separators Celgard & UBE Evonik Battery Separators Ceramic Polymer PP PP/PE/PP Trilayer PE PVDF (In Development)
    24. 24. Key Findings and Conclusions: EV Battery Chemicals and Materials Market Market Growth <ul><li>Immense market growth is expected for all the components of EV batteries. </li></ul><ul><li>The lithium-ion technology will largely supersede NiMH-based technologies in HEVs and EVs over the long term of the forecast period. </li></ul>Technology Trends Geographical Trends Growth Strategies <ul><li>Acquisitions and joint ventures with technology companies and close relationships with key end users will have a major influence on ensuring market share and growth. </li></ul><ul><li>Vertical integration in the value chain will generate higher profit margins and control over technology. </li></ul><ul><li>Leveraging government grants and incentives are the key to reduce the capital expenditure burden in the start-up phase for market participants. </li></ul>Key Challenges <ul><li>Rapid ramping up of components production capacities to meet the very high forecast growth rates in EV and battery production will be the significant challenge </li></ul><ul><li>The market will face high levels of price pressure from downstream companies, and increasing competition from low - cost production locations will augment the profit margin reduction for chemical suppliers. </li></ul><ul><li>Leading participants are mostly based in Japan ; however, more US and European companies will emerge over the forecast period. </li></ul><ul><li>Nevertheless, South Korea, Japan and China will continue to have a major impact on technology and manufacturing in the market. </li></ul><ul><li>Investing in the appropriate technology will also be a major challenge for market participants. This is because the market is currently in nascent stage and is supporting a wide range of chemistries and technologies, but this support will narrow down as the market matures. </li></ul>Source: Frost & Sullivan Findings and Conclusions
    25. 25. How We Help Our Clients
    26. 26. Typical Client Questions <ul><li>How do I capitalise on this key growth market? </li></ul><ul><li>In such a fast paced market do I understand who the winners and losers will be? </li></ul><ul><li>Who should I partner with or target to develop products? </li></ul><ul><li>How do I cross sell products into other power storage sectors? </li></ul><ul><li>Where should I focus my R&D for the best returns? </li></ul><ul><li>What will be the next battery technology chemistry? </li></ul><ul><li>Will there be new market players and customers? </li></ul><ul><li>What will the business model look like? </li></ul>
    27. 27. EV Battery Materials – Opportunity Analysis <ul><li>Client: </li></ul><ul><li>Leading Global additive and materials company, not currently active in the electric vehicle battery materials market. </li></ul><ul><li>Scope: </li></ul><ul><li>Identify and confirm areas of the EV batteries market in which there are unmet needs </li></ul><ul><li>Evaluate which products in the clients portfolio may be able to add value to existing battery manufacturers </li></ul><ul><li>Quantify the market value of developing a product to address each specific unmet need </li></ul><ul><li>Discuss and shortlist key market players and thus potential routes to market for any future product developed </li></ul><ul><li>Methodology: </li></ul><ul><li>Strategic workshop format. Frost & Sullivan presented the roadmap and development of the electric vehicle market and then, more specifically, the demand for chemicals and materials in the batteries. Growth opportunities specific to the client were then discussed and evaluated using inputs from Frost & Sullivan research and the clients in house data. </li></ul><ul><li>Result: </li></ul><ul><li>Identification of multiple growth opportunities </li></ul><ul><li>Clear understanding of the size of each opportunity </li></ul><ul><li>Understanding of the market value of each opportunity and thus the price that could be achieved if a product was developed to address a need </li></ul><ul><li>Understanding of likely revenue and profitability </li></ul><ul><li>Confirmation that an R&D campaign is worth investing in </li></ul>Battery Systems Module and Control Systems Battery Pack and Cell High - performance Materials Processing Equipment & Chemicals
    28. 28. EV Battery Components – Strategic Sourcing <ul><li>Client: </li></ul><ul><li>Leading Japanese automotive vehicle manufacturer with ambitions to supply its EU electric vehicle plant with batteries produced in house from its own facility in the EU. The client wanted EU suppliers for the battery plant. </li></ul><ul><li>Scope: </li></ul><ul><li>Identify existing suppliers of battery components in the following key areas: </li></ul><ul><ul><li>Cathodes </li></ul></ul><ul><ul><li>Anodes </li></ul></ul><ul><ul><li>Separators </li></ul></ul><ul><ul><li>Laminates </li></ul></ul><ul><ul><li>Electrolytes </li></ul></ul><ul><ul><li>Collectors </li></ul></ul><ul><li>Understand which new market players will be entering the market, the timeframe of commercialisation and likely supply capacity. </li></ul><ul><li>Understand which companies can supply to the tight specifications laid out by the client. </li></ul><ul><li>Research: </li></ul><ul><li>Interviews with battery component suppliers, battery assembly companies and chemical companies identified as potential new market entrants. </li></ul><ul><li>Result: </li></ul><ul><li>Clear understanding of the EU supply potential for the battery plant </li></ul><ul><li>Understanding of potential new suppliers and new products being developed </li></ul><ul><li>Understanding of potential bargaining power in the purchase process </li></ul><ul><li>Company profiles of key players to further understanding of potential partnerships and strategic fit </li></ul>
    29. 29. Chemicals and Materials in Transportation Platform 2011 Key Themes Green fuels and lubricants Electric vehicles and batteries Recycling / end of life Light weighting Emerging Markets Green Fuels and Lubricants Electric Vehicles and Batteries Recycling / End of Life Light Weighting Emerging Markets