GREY:LSSCF - Post Discussion
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goodtoreadthis on Oct 13, 2018 1:36pm
Disruptive tech coming
DISRUPTIVE INNOVATIONS DISRUPTIVE INNOVATION | PART 1: SHAPING THE FUTURE OF THE AUTO INDUSTRY 2 As we move into a new digital age of innovation, the pace of technological change is accelerating. Whether it be block chain technology, 4D printing, autonomous driving, artificial intelligence or virtual reality, disruptive innovations are increasingly part of our everyday conversation. New developments are often deemed the “next big thing” that will transform people’s lives, businesses and economies. But amid the vast number of advances, only some leading-edge innovations do in fact have the potential to unleash disruptive change. Innovation doesn’t necessarily originate from a new concept and it isn’t always instantaneous. The most disruptive innovations are generally the ones that arise slowly, drawn from a number of existing ideas. Disruptive innovators generally provide a faster, simpler and cheaper solution than current market leaders. In this series, we identify innovations which could disrupt the marketplace across a range of sectors. Part 1 focusses on all-solid-state batteries — a disruptive innovation that could determine the speed of market uptake for battery electric vehicles (BEVs). DISRUPTIVE INNOVATION | PART 1: SHAPING THE FUTURE OF THE AUTO INDUSTRY 3 The recent rapid growth of battery electric vehicles (BEVs) has partly been driven by government incentives, regulation and corporate ethics. Despite this growth, the uptake of BEVs still remains relatively low compared to conventional vehicles. The reason is simple — BEVs don’t meet consumers’ needs the same way an internal combustion engine (ICE) vehicle can. The limited driving range, short product lifespan, long charging time and flammable nature of lithium-ion batteries continue to be the biggest barriers that slow down the uptake of BEVs. All solid-state battery technology is believed to be the next generation ‘game changer’, presenting a promising future for the electric vehicle (EV) market. Solid-state batteries replace the liquid or gel-form electrolyte used in lithium-ion batteries with a solid conductive material. Using a solid electrolyte provides a number of benefits including higher energy density, longer lifespan, and increased safety — all of which resolve the drawbacks in lithium-ion batteries. Solid-state batteries can also hold a higher charge, and thus potentially double the driving range of electric cars today. The Tokyo Institute of Technology and Toyota’s research team have successfully developed an all-solid-state battery with three times the power density and twice the energy density of existing lithium-ion batteries. Consequently, in 2017, Toyota announced plans to commercialise a limited volume of all-solid-state BEVs by the first half of 2020. It is expected that the initial small-scale production will be done in-house, but mass production would require the partnership of battery manufacturer, Panasonic, who already has an alliance with Toyota. LITHIUM-ION BATTERY VS. ALL-SOLID-STATE BATTERY Source: Citi OVERVIEW DISRUPTIVE INNOVATION | PART 1: SHAPING THE FUTURE OF THE AUTO INDUSTRY 4 If BEVs powered by all-solid-state batteries are successful after the first launch, they may slowly replace conventional ICE vehicles, and in turn cause disruption across a range of businesses including auto sellers, battery suppliers and auto part manufacturers and distributors. Toyota’s plans to launch all-solid-state battery powered BEVs has also stimulated interest among other automobile companies such as Volkswagen, Hyundai Motor and Nissan Motor, who have already announced investments in start-up companies. Similarly, the increase in BEVs is likely to change governing rules such as taxes, energy policy and resources. CONVENTIONAL AUTO ASSEMBLERS – Lack of demand for engines, transmissions and other conventional vehicle parts. – Auto assemblers can add value by refining their technical skills and ensuring they have the in-house capacity to develop components needed for BEVs. AUTO PARTS SUPPLIERS – Greater demand for batteries, inverters and motors needed for BEVs. Suppliers can re-examine their primary technologies to develop new components that are required for BEVs. IMPACT ON MARKET TOYOTA MOTOR CORPORATION Toyota Motor is one of the world’s largest automobile manufacturers. The company operates across three business segments including Automotive Operations, Financial Services and All Other. Toyota’s automotive segment involves the design, manufacture, assembly and sale of passenger vehicles, commercial vehicles, minivans and related parts and accessories. Toyota currently offers three categories of vehicles — hybrid vehicles, conventional engine vehicles and fuel cell vehicles, with further plans to launch battery electric vehicles (BEVs) powered by allsolid-state batteries. Their vast product line includes compact, mini and mid-sized vehicles, luxury, sport and specialty cars, trucks, minivans and buses. View latest research report > PANASONIC CORPORATION Panasonic is a Japanese electronics company which develops, produces, sells and services electrical and electronic products worldwide. The company has four core business areas — consumer electronics, housing, automotive & industrial systems, and B2B. Panasonic’s automotive & industrial segment provides a range of products which includes automotive mirrors, electrical components, lithium ion and automotive batteries, dry batteries, automation controls, electric motors, semiconductors and more. View latest research report
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