Lithium battery is good for the company

Why do we need lithium-ion batteries?

The ongoing paradigm shift in the mobility segment toward electric vehicles (EVs) created a need to build out the entire value chain. Consequently, demand for materials like lithium and lithium-ion batteries has increased meaningfully in recent years.

Are lithium-ion batteries a good choice?

However, lithium-ion batteries defy this conventional wisdom. According to data from the U.S. Department of Energy, lithium-ion batteries can deliver an energy density of around 150-200 Wh/kg, while weighing significantly less than nickel-cadmium or lead-acid batteries offering similar capacity. Take electric vehicles as an example.

What are the advantages and disadvantages of lithium batteries?

One of the greatest advantages of lithium batteries is that they have much higher energy density than other rechargeable battery technologies. Energy density is the amount of energy stored in a given volume or weight, and it’s usually expressed as Wh/kg (watt hours per kilogram).

Are lithium-ion batteries the future of energy storage?

Lithium-ion batteries stand at the forefront of modern energy storage, shouldering a global market value of over $30 billion as of 2019. Integral to devices we use daily, these batteries store almost twice the energy of their nickel-cadmium counterparts, rendering them indispensable for industries craving efficiency.

Are lithium ion batteries dangerous?

Because lithium batteries simply contain more energy, they also have more energy to release when something goes wrong. In fact, the higher a battery’s energy density, the more dangerous it has the potential to be. One of the largest risks of lithium ion batteries is their susceptibility to thermal runaway.

Are lithium-ion batteries better than nickel-based batteries?

This is in stark contrast to early nickel-based battery EVs, which often required a new battery before hitting the 60,000-mile mark. The longer lifespan of lithium-ion batteries equates to fewer replacements and, in turn, less waste.