Li-Ion Batteries Grow in Importance as Governments Adopt Green Regulations

The shift from diesel-powered vehicles to fully electric and more environmentally efficient vehicles is already taking place. Recent consumer trends in the automotive industry have shown that many electric vehicle (EV) manufacturers are already seeing increased sales. Other large automotive players in the industry are also transitioning from their current portfolio of gas-powered vehicles into a more fully electric production line. The abundance of EVs is partly attributable to the growing concerns regarding the environment as well as government initiatives imposing the transition. EVs are predominately powered by lithium-ion batteries, which are a lightweight and high-energy density solution. They provide the highest energy density per weight and are commonly used in phones, computers, as well as hybrid automobiles. According to data compiled by Grand View Research, the global lithium-ion battery market is expected to reach USD 93.1 Billion by 2025, while registering a robust CAGR of 17% as well. The EV market is expected to be a major driver for the overall lithium-ion battery, as well as the battery's growing adoption in portable consumer electronics and grid storage systems is expected to accelerate the market. MGX Minerals.