Unveiling a 9-Minute Charge for an Electric Vehicle Battery Range of Nearly 1,000 km: How Samsung’s Innovation Could Send an Already-Expensive Material’s Price Skyrocketing Further

Samsung has recently unveiled a new solid-state battery technology for electric vehicles, featuring silver as a key component. With the rising demand for electric cars, this development could significantly boost the demand for silver.

According to commodity expert Bambrough, the main factors driving the demand for electric vehicles are range, charging time, battery life, and safety. Samsung’s innovative solid-state battery technology, which utilizes a silver-carbon (Ag-C) layer for the cathode, addresses these concerns. Silver’s exceptional electrical conductivity and stability enhance the battery’s performance and longevity, achieving impressive standards such as a 965-kilometer range, a 20-year lifespan, and a 9-minute charging time.

While official figures are not yet available, estimates suggest that each cell in Samsung’s solid-state battery may contain up to 5 grams of silver. This means that a battery pack with approximately 200 cells and a capacity of 100 kWh could require about 1 kilogram of silver per vehicle. With global automobile production reaching around 80 million vehicles annually, if 20% of these (16 million electric vehicles) were to adopt Samsung’s solid-state battery technology, the annual silver demand would be approximately 16,000 tons.

This would represent a significant portion of the current global silver production, which stands at approximately 25,000 tons per year, potentially impacting the silver market. Bambrough notes that this alone indicates a trajectory of rising silver prices, even without considering the demand from the solar energy sector. Silver is currently in a deficit due to solar energy demand, pushing annual consumption beyond supply levels.

With the advancement of solid-state batteries, silver is forecasted to increase in price by at least 20% in the next 10 to 15 years.

According to Enrico Punsalang of Ride Apart, an automotive news source, Samsung has been collaborating with major automotive manufacturers to integrate its solid-state battery technology into upcoming electric vehicle models. The company has signed an agreement with Toyota to commence mass production in 2027, with Lexus expected to be one of the first brands to incorporate this new technology.

Charlie Morris, founder of ByteTree, suggests that this development sets the stage for silver to experience a price surge similar to that of 2010. “This reminds me of the silver price surge in 2010,” he said, “when prices skyrocketed to $50 due to solar panel demand.”

As the demand for ultra-fast charging infrastructure grows, several other metals are also expected to witness increased demand and subsequent price hikes. A report by Meticulous Research states, “Based on the type of material, the global electric vehicle charging station raw materials market is categorized into metals & alloys and polymers. In 2024, the metals & alloys segment is expected to account for the larger share of the global electric vehicle charging station raw materials market.”

Sources: FT, Reuters