Panasqueira Tungsten-Tin Mine Presentation
APPENDIX 4 – CURRENT TRENDS & NEWS
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TUNGSTEN'S INCREASING ROLE IN THE BATTERY & EV MARKET
A ALMONTY
fin
The EV battery market is expected to grow
from $17 billion in 2019 to $95 billion by 2028.
Here are the world's biggest battery
manufacturers in 2022.
E
"According to the researchers at N1 Technologies, as the
next-generation battery, they had added tungsten and
carbon multi-layered nanotubes while working on
anodes. This will recharging the NanoBolt lithium
tungsten battery faster, and stores more energy."
(BISInfotech, EV MECHANIA)
Three major Korean companies have propelled Korea to become the world's second-
largest EV battery manufacture
The Sangdong Tungsten Mine emerges as a stable and cost-effective alternative,
empowering these companies to diversify supply chains and reduce reliance on China
Tungsten, indispensable in EV battery and semiconductor production, plays a pivotal
role at the heart of EV battery technology, contributing to enhanced energy density
As a crucial battery component, tungsten not only improves energy density but also
advances battery technology, underscoring its key role in both anode and cathode
manufacturing
The Top 10
EV BATTERY MANUFACTURERS
in 2022
Source: SNE Research via Bloomberg
CATE
CATL provides batteries for companies
like Tesla, BMW, and Volkswagen.
It expanded its market share from
32% in 2021 to 34% in 2022.
YO
BYD overtook Panasonic as it nearly
doubled its market share over the
last year. The Warren Buffett-backed
company is also the world's
third-largest automaker.
10%
Panasonic
34%
12%
BYD
CATL
E
14%
C
B
5%
8%
Other
4%
CALB
7%
2%
SAMSUNG SI
3%
SALOON
SK an
QUOXVAN
LG Energy Solution
1%
LG agreed to reimburse GM $1.9 billion
to cover the 143,000 Chevy Bolt recalled
due to fire risks caused by faulty batteries.
China
Japan Korea
Other
ELEMENTS
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