Ohio Can Lead the Electric Vehicle and Clean Energy Economy Ohio’s manufacturingLithium Ion Battery Markets
— a leading battery industry analysis firm — provides an overview of Ohio’s key advantages when trying to capture these investments and protect its automotive heritage. While the report emphasizes Ohio’s infrastructure and logistics, its extensive experience with the automotive supply chain, and its highly skilled workforce, the report makes special mention of a new asset that Ohio can use to attract massive investments, solar energy.
As we work to identify opportunities to leverage the state’s strengths to create jobs in fast-emerging global industrial sectors, we have the potential to attract investments that will sustain our economy for the longer-term. The battery materials supply chain provides a compelling opportunity for Ohio to take a leadership position.The annual lithium-ion battery market is already estimated at more than $35 billion with projections that it will triple over the next five years.
According to Benchmark, as of 2017 there were projected to be 17 lithium-ion gigafactories . By the fourth quarter of 2021, this number has grown to 261 gigafactories worldwide. The United States’ share has increased from 3 in 2017 to having merely 18 battery megafactories in various stages of development today, most of which have been announced in the last six months. Of these 18, only 4 are currently active; one more than in 2017.
and research capabilities, combined with the state’s highly skilled workforce, makes clear there’s no better place for this industry to plant its roots.
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