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Lithium, the gray gold, is considered by many a fundamental part in the future of electric vehicles. The largest reserves of lithium can be found in Bolivia, Argentina, Chile and China.
According to Pike Research, the market could be worth $8 billion in sales by 2015.
Today, it is mostly plug-in hybrid vehicles employing Li-ion batteries, however, as electric vehicles become more popular and affordable, we can expect to see a market explosion starting this or next year.
While at first we can foresee a government subsidized industry, by 2012 we should be able to appreciate whether the commercial success of electric vehicles has materialized, and with it that of Li-ion batteries too. Today, everything seems to indicate that this will be the case.
Garter forecasts that Li-ion prices will improve significantly over the next few years, falling 50% from $940 per kilowatt hour (kWh) in 2010 to $470 per kWh in 2015.
Pike Research's report, "Electric Vehicle Batteries," examines the key market dynamics for Lithium Ion batteries in plug-in hybrid and battery electric vehicles. Analysis includes industry and government drivers for the electrification of vehicles, and the role of advanced battery technologies in the development of this new sector.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets.
Source: Pike Research, REVE
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