The news about lithium-ion batteries has been high-profile over the past few months. It is now clear that significant progress was made in increasing their charge capacity, and their connection with electric cars grows closer. Pike Research, a well-known research group in the field of new energy, today released a report that suggests that lithium-ion battery sales could increase significantly over the next eight-year.

lithium ion batteries

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What is the expected sales figure for lithium-ion batteries?

Research suggests that 2012 sales of $1.6billion will rise to nearly $22billion in 2020, as electric technology and especially light-duty vehicles become more popular. This technology has received a lot of attention in the past few weeks because it is clear that both battery and electric car manufacturers are ready to invest hundreds of millions of dollars in this technology.

Why did I make such a sudden leap?

Although electric car sales were disappointing in 2012, many believe that the global economy is to blame, 2013 promises a new era of battery technology. There has been too much investment in the market for electric vehicles and lithium-ion batteries to make a reversal. Government policies now aim to reduce environmental damage and introduce more efficient transport methods.

Lithium-ion batteries are the preferred power source for electric vehicles and will continue to be so in the future.