The world’s fleet of electric vehicles grew to over 5 million units last year. Within a decade, there will be enough electric cars in transit for every person in Canada, as expected global electric vehicle ownership grows exponentially to reach 40 million units by 2025. With the battery tech growth curve firmly established, Saint Jean Carbon (TSXV: SJL) (OTCMKTS: TORVF) is developing the next generation of battery tech that will allow cars to perform more optimally, and with greater driving radiuses.
Spurred by government-friendly policies that encourage drivers to purchase clean-running vehicles, the growth of electric vehicles (EV) is an immutable trend. Across all continents and spanning most nations, credits and subsidies are helping the EV market expand. So much so that by 2030, EVs could account for more than a quarter of unit sales. Meanwhile, the soaring price of gasoline and tightening emissions standards remain tailwinds for increased EV adoption.
The development of battery technologies relies on the latest in research and design, manufacturing processes, and technical know-how to develop robust and reliable electric components to support the next generation of EVs. This is precisely the market Saint Jean Carbon seeks to address.
Currently, the company is developing the next generation of battery tech to enhance performance and driving distance for the commercials and consumer markets. According to Chief Technology Officer V-Bond Lee, there will be a need to bridge current battery technology with hybrid technology the company is working on right now.
There are companies out there today that just go to all solid state (batteries). And that is a very dramatic change, and there’s a lot of challenges with that technology that I think will still take a few years to mature. And I think the intermediate step is going to be some type of hybrid lithium ion battery which is what we’re working on right now.
If successful—and there is preliminary data pointing in the right direction—Saint Jean Carbon can be well positioned to penetrate the next iteration of vehicular battery technology. With its Guelph R&D plant now operational, the company is in a favorable position to develop and refine its prototypes.
To view of inaugural interview with Saint Jean Carbon, click here.