Expion360 Says It Aims To Be The Largest Supplier Of Lithium Batteries Without Jeopardizing Planet Earth

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According to the U.N. 2015 Paris Agreement, to keep global warming below 1.5 degrees compared to preindustrial levels, 100 million electric vehicles (EVs) need to be added to roads globally by 2030 — a 50-fold increase from today’s numbers. 

To keep pace, the sales and production of battery-powered electric EVs may continue to accelerate globally, with double-digit annual growth expected by analysts over the next decade. Batteries storing solar power for businesses and households also are on the rise and expected to account for 57% of the world’s energy storage by 2040.

In the rechargeable battery segment, lithium batteries are the fastest-growing product, with the transportation sector dominating the market — 1% of automobiles sold consume 60% of lithium batteries.

While lithium batteries have been used in electronic applications like cell phones and laptops for years, advanced technology over the past decade has made them a go-to choice for recreational vehicles (RVs) as well. 

Lithium: Not Quite Rare Earth But Rarefied No Less

The rise in EVs has created a need for an uninterrupted supply of lithium, the main raw material that goes into vehicle batteries. Original equipment manufacturer (OEM) companies, including Tesla Inc. TSLA, Volkswagen Group VOW, BMW BMW, General Motors Co. GM and Ford Motor Co. F, have reoprted investing billions of dollars to secure lithium supplies for their production lines.

Lithium battery production is dominated by China, which accounts for over 70% of global battery cell production capacity. 

Companies like Expion360 Inc. XPON that are focused on RV and marine lithium battery products are constantly looking for ways to develop a robust and flexible EV battery supply chain.

Based in Redmond, Oregon, Expion360 has ambitions of becoming the largest OEM supplier for lithium batteries for RVs and boats. Its lithium battery manufacturing factories are located in China. 

While Expion360 has a dedicated team to oversee and monitor its manufacturing, it states that it is working toward maintaining total control of its supply chain by onshoring the manufacturing and using automation.

What’s So Special About Lithium Batteries?

In recent years, lithium batteries have been replacing traditional lead-acid batteries, which are purportedly cheaper and have a lion’s share of the battery market. Reasons for this include:

• Lithium batteries are more than twice as energy-dense, meaning they weigh much less for the same amount of energy. They also take up less space and are nontoxic, making them convenient to be installed anywhere easily.   
• Lithium batteries charge quicker than lead-acid batteries — almost four times faster — and perform much better under heavy load applications, while lead-acid batteries tend to lose energy under heavy loads. 
• Vagaries of weather challenge any battery’s performance, but lithium apparently wins again, performing better overall in both hotter and colder temperatures. 
• The batteries don’t require maintenance, and they don’t produce gasses or leak any liquids. 

Expion360 says it’s developed innovative processes to make its batteries superior. 

For one, the company says its batteries use the highest grade lithium cells available, meeting the UL1642 standard. The axis in the interior is secured by molded ribs and solid mechanical connections, rather than with the foam filters some competitors use. Its terminal connection pads are 96.7% larger than standard terminals. Its batteries allow better heat dissipation and have an increased current carrying capacity. 

Expion360 believes that its design is forward-thinking, and the strength and structural integrity of its batteries is unparalleled. It also backs its batteries with a 12-year warranty.

What About The Environment?

While batteries are critical in the efforts to cut greenhouse gas emissions, the processes used in their manufacturing and the way they are treated at the end of their life, can have adverse environmental impacts.

An estimated 11 million tons of spent lithium batteries will need disposal by 2025, and their handling matters.

Expion360 says it plans to advance its greentech in production by securing a strong supply of raw materials without costing the environment terribly. It is also looking at options to recycle, repurpose and reuse its batteries across industries.

To learn more about Expion360, visit: https://expion360.com/

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.