Lithium batteries market
The tide is definitely going out on oil, in the long run. The world’s dependence on oil will decline and will be replaced by other fuels, such as lithium-ion batteries.
The US, the world’s second biggest polluter after China, clearly agrees. President Barack Obama has said he wants a million hybrid electric cars on America’s roads by 2015.
And, at a groundbreaking ceremony for a new lithium-ion battery plant recently, vice president Joe Biden said such factories oil and prevent disasters like the Deepwater Horizon oil leak in the Gulf of Mexico.
This is the beginning of a revolution in the production of energy in the country, which will make batteries for 60,000 electric vehicles a year.
Japanese, Chinese and South Korean manufacturers dominate the lithium-ion battery market, and Asia-Pacific lithium mining project are coming thick and fast.
The lithium batteries for electric vehicles are very much in the nascent stage and the infrastructure to charge these batteries needs to be developed and installed.
The next five years will be critical in establishing such infrastructure for recharging the batteries and the technology and standardization of batteries is also very important.