Benchmark’s lithium ion battery megafactory assessment methodology

Benchmark Mineral Intelligence created the industry’s first tiering system to assess the suitability of lithium ion battery cell supply for the automotive / electric vehicle (EV) market.

Since 2014, Benchmark has been collecting and assessing lithium ion battery cell production capacity following a shift in the scale of such facilities moving from megawatt-hour to gigawatt-hour capacity initiated by the Tesla/Panasonic Gigafactory in February 2014.

As the world’s leading specialists in the lithium ion battery to electric vehicle supply chain, the need for trusted, accurate and methodologically collected data was paramount for use in multi-billion-dollar investment decisions for the market.

Following on from the success of Benchmark’s creation of the lithium industry’s reference price, and the adoption of other key raw material inputs into the industry’s decision making workflow and contract negotiations, we decided to formalise our market data collection for lithium ion battery cells.

In 2017 Benchmark created its market specific Lithium ion Battery Cell Data Methodology which includes the company’s ranking of lithium ion battery producers.

The data and analysis is presented each month in two subscription services:

  • Benchmark’s Lithium ion Battery Megafactory Assessment

Monthly assessment of the current capacity and forecasted outlook of lithium ion battery capacity on a global basis; tracking all lithium ion cell production facility (greater than 1 GWh) on a plant by plant basis that is active, under construction and in planning.

Trial or subscribe here. Or email [email protected]

  • Benchmark’s Lithium ion Battery Forecast Database

Our most comprehensive database and analysis service for lithium ion batteries detailing the forecasted supply, format and chemistry of every battery cell plant globally and our most comprehensive cell demand forecast.

Trial or subscribe here. Or email [email protected]

Benchmark’s Lithium ion Battery Cell Data Methodology

  1. Tiers of Quality

We assess a lithium ion battery producer’s ability to supply lithium ion battery cells to the electric vehicle (EV) / automotive OEM industry.

Benchmark’s ranking system is used by the automotive industry, institutional investors and governments in their workflow and decision-making process.

Every three months, Benchmark assesses each lithium ion battery cell producer into the following three tiers:

Tier 1:

  • Qualified to supply multinational automotive OEMs / EV producers outside of China
  • Supplier to domestic Chinese EV market
  • >5 GWh of annual cumulative capacity (equivalent at time of assessment)

Tier 2:

  • Not yet qualified to supply multinational automotive OEMs / EV producers outside of China
  • Qualified to supply domestic Chinese EV manufacturers
  • Qualified to supply non EV applications
  • >1GWh of annual cumulative capacity (equivalent at time of assessment)

Tier 3:

  • Not yet qualified to supply EV end markets
  • >1GWh of annual cumulative capacity (equivalent at time of assessment)
  • Primary focus: non EV markets including portable and stationary

2. Collecting and assessing the data 

Benchmark collects proprietary lithium ion battery cell data from a global network of industry contacts and uses its in-house expertise to qualify and assess the data before publishing. 

The 4-step process is as follows: 

Step 1: Transforming analyst resource and high value industry contacts into proprietary data sets

Benchmark’s unique, number one position in the global lithium ion battery supply chain ensures a continuous feed of first hand and second hand data inputs into step one of our methodology.

Step 2: Asking the question: How accurate is the data?

Benchmark’s expertise and a rigorous qualification process combine to qualify and verify the data in order to identify capacities, utlisation rates, ramp rates, chemistry technology, cell formats for every lithium ion battery cell plant (megafactory or gigafactory) in the world

Step 3: Peer Review Finalisation

Our peer-review step in this process is a final expert cross check on the validity and accuracy of the data. This includes cross-referencing and triangulation processes to eliminate any inaccurate or misleading data and remove outliers

Step 4: Publishing to Market

Once the assessment is complete the process is signed of by at least two senior team members and cleared for immediate publication online into Benchmark’s Battery Cell Database and delivered directly to customers via email.

The data feeds two subscription services:

  • Benchmark’s Lithium ion Battery Megafactory Assessment (Monthly Publishing)
  • Benchmark’s Lithium ion Battery Forecast Database (Quarterly Publishing)

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