Commentary: The Innovation Shift in the EV Battery Supply Chain
It was easy to miss amid the coronavirus pandemic that has rightfully dominated the news of late, so we chose to put a short blog post together highlighting a recent Wall Street Journal story, Why More Car Makers Are Following Tesla Into the Battery Business, and why it compliments The Coretec Group’s story. The article showcases a shift in electric vehicle manufacturing production that goes beyond merely emphasizing the importance of battery durability, power and capacity – which most investors and consumers are aware of – and instead focuses on how auto manufacturers are innovating within their supply chain to keep up with Tesla. “In recent months, one after another of the world’s top auto-makers has followed Tesla down the route of big battery investments, a key link in the electric-vehicle supply chain. And just as Elon Musk teamed up with Panasonic; OTC: PCRFY for his so-called gigafactory in Nevada, old- school manufacturers are leaning on specialist partners.” Why is this important? The last two words of this paragraph from WSJ are “specialist partners” which describes Coretec as we commercialize our CHS technology for battery energy storage purposes. While auto manufacturers are not quite yet evaluating Coretec technology, we do believe that understanding our role within this ecosystem and communicating this effectively to the market, is an ideal means of getting on their radar. In coming weeks and months, we anticipate sharing news and information that demonstrates the progress we’ve made with respect to both technology development as well as partnerships with leading global manufacturers – all of which bring us closer to commercializing our product for the EV sector, and many other high-growth industries and applications which use CHS.