Automotive Lithium Ion Battery Market Estimated to Discern 2X Expansion by 2025
Lithium based batteries are advanced batteries used in Electric Vehicles (EVs) and in many other sectors such as portable consumer electronics. However, they were not initially used in Hybrid Electric Vehicles (HEVs) owing to the substantial cost associated with them and the availability of nickel based counterparts in the market. After 2005, with the decline in the prices of lithium batteries, automotive manufacturers have started using lithium batteries in hybrid vehicles, increasing its market size dramatically. The four materials used...
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