Batteries are a critical technology to succeed the phase out of fossil fuels and accelerate the decarbonization of our society. However, despite the significant progress made in the last decade the current batteries still are too expensive and are not capable of storing enough energy. We need more affordable batteries that need much less critical raw materials for every kWh.
If there is no significant cost reduction and much higher efficiency in the use of raw materials the wider electrification in sectors like passenger cars, heavy duty vehicles, marine or aviation will not happen despite a regulatory framework going in that direction. Simply, only end consumers with high purchasing power will be able to afford eco-friendly and sustainable products.
In that context, if the carbon neutrality ambitions of the society are maintained, the situation will widen social inequalities and set back decades of social and economic progress.