Building Better Car Batteries
IQM and Volkswagen is shaping the future of energy storage through quantum computing, and the possibilities look promising.
In the fast-growing electric vehicle (EV) market, the race is on to create affordable, mass-market EVs with longer ranges, faster charging, and durable batteries that meet high environmental standards.
Currently, one in five cars sold is electric, with the market projected to expand from $500 billion in 2023 to $1.9 trillion by 2032. Despite challenges like supply chain constraints and raw material shortages, EV sales surged in 2023. To address resource concerns, manufacturers are innovating with batteries that have lower cobalt content but higher energy density. These advancements, sometimes backed by billions in R&D, promise benefits for both the environment and the industry's profitability.
While progress has been significant, the challenges are still vast. Now, an exciting collaboration between IQM and Volkswagen aims to tackle these hurdles by leveraging quantum computing for a transformative breakthrough in battery technology.
Download our whitepaper here: www.meetiqm.com/lp/iqm-and-volkswagens-study-on-quantum-battery-simulation
Read more from the scientific publication here: https://arxiv.org/pdf/2408.06160
