Prices for Lithium Ion Batteries Will Fall by More Than One-Third by 2017, Helping to Drive EV Adoption
March 20th, 2012
Managing transportation emissions and reducing energy insecurity due to a volatile oil industry are of great importance for many countries worldwide. Electric Vehicles (EVs) have a significant role to play in both areas. Though EVs will remain a niche market for the rest of the decade, the global automotive industry is starting to move away from the internal combustion engine and toward electric drivetrains. Arguably the most important factor behind the shift will be the continual advancement in the capabilities of the vehicles’ batteries, which will be led by lithium ion chemistries. A recent report from Pike Research proposed that as manufacturing efficiencies improve and access to lithium expands, the installed cost of Li-ion batteries will fall by more than one-third by the end of 2017. This means that the Li-ion battery market for transportation will grow from $2.0 billion annually in 2011 to more than $14 billion by 2017, as forecasted by the cleantech market intelligence firm.
Read More: http://www.pikeresearch.com/research/electric-vehicle-batteries
America uses 25% of the world’s oil, but is only 4.5% of the world’s population.