Maybe most of you ask, why the auto manufacturers are entering this market. They need to focus on making more efficient all-electric cars. But also, they are the best option for homes in which need power storage for their home solar system. Lithium-ion batteries that used by cars or at home are still a new technology. There are many problems they are facing right now. The vehicles driving range is still too short, if you compare them with gasoline powered vehicles, they have problems with overheating, as we saw many videos about hover boards that catch fire all the sudden or a Tesla burst in flames during a recharge, and their charging time, still too long. Some researchers find a solution for this slow charging situation but the system still need more time.
Also, opening a battery factory can be costly. Tesla will invest 5 billion to their battery factory, and Faraday Future will spend 1 billion for their new plant in Nevada. These plants will need an enormous amount of raw materials. Tesla already made millions of dollars of agreements with the several mine companies for the raw materials that required producing batteries. German automaker Audi is working on new battery technologies, Nissan also investing millions of dollars to improve the battery technology, And there is Formula E, which will help the companies develop the technology of batteries. As you see, Lithium-ion batteries rely on the automotive market to improve, and auto manufacturers rely on lithium-ion batteries to be part of the future auto market of all-electric vehicles.
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And BMW is one the companies who is getting stronger in the all-electric car market. And they are going very well against the other European auto manufacturers. Instead of making concept car that never can be sold. They made two great all-electric car model that are on sale right now. With this new plan business strategy to enter into the private energy storage market, they will be one step ahead from many car manufacturers. BMW is planning to deliver their first energy storages for homes at later this year. The company also claims that i3 batteries can be used in this new home power storage systems with limited development and cost effort. Also, in the future, they are planning to re-use the old batteries which used by their electric cars. This re-usage will also give the company some extra earnings from the old batteries; it is wonderful news for the environment too. For us, BMW’s strategy of this market is brilliant and the company will be one of the strongest in the all-electric car market. And they are already very popular in the regular automotive market so they will be the biggest competitor of Tesla, Faraday Future or any other new all-electric car producer.
