Over the last decade, the use of graphite in batteries has increased significantly. In terms of weight, graphite is the second-largest component in lithium-ion batteries. Each lithium-ion battery requires 10 to 20 times more graphite than lithium. According to an independent research firm, in 2012, around 80% of graphite used in batteries was for lithium-ion batteries. There has been a steady increase in the popularity of lithium-ion batteries in the automobile industry. For instance, Tesla Motors, Inc., an automotive company based in the U.S., has announced plans to invest USD 5 billion in a new lithium-ion battery factory. This is expected to increase demand for natural graphite by up to 37% by 2020. The factory is expected to start production by 2017. Moreover, the rapid increase in the use of lithium-ion batteries in Smartphones, laptops, tablets, portable media players, and power tools is expected to further drive the graphite market.