Worldwide Capacity of Lithium Ion Batteries for Electric Vehicles Will Multiply More than 10-Fold by 2020

Improvements in lithium ion (Li-ion) battery technology are helping to accelerate the worldwide market for electric vehicles (EVs). In the last few years, automakers have shifted from nickel-metal hydride (NiMH) batteries to Li-ion batteries.

This shift represents a major endorsement of Li-ion chemistry and its ability to perform consistently in an automotive environment. According to a recent report from Navigant Research, total worldwide capacity of Li-ion batteries for transportation applications will increase more than ten-fold, from 4,400 megawatt-hours (MWh) in 2013 to nearly 49,000 MWh by 2020.