NEW ERA: In 2005, there was a total of around $4900mil in the sales of lithium-ion batteries while in 2015 it is spiked to $15200mil wherein $4800mil is in automotive alone. It is expected to reach 10% on the total number of cars on the road to be battery EVs by 2020 from 0.3% today and to 35% by 2035.
There is an even higher growth rate in China, Europe, and Japan when compared to the US. Statistically consuming 1900TWh for Li-ion battery pack by 2035, which is equivalent to power the whole of US for 160days. FUTURE: There is still a lot to develop the battery technology as over the years we haven’t come up with anything further than lithium-ion battery packs configured in parallel or series to deliver the desired voltage, power density, and capacity.