The growth of lithium-ion battery power
Higher volumes and better chemistry are causing costs to plummet
THE first lithium-ion batteries went on sale just 26 years ago, in Sony’s CCD-TR1 camcorder. The product was a hit: the batteries even more so, spreading to computers, phones, cordless power tools, e-cigarettes and beyond. The more gadgets the world has become hooked on, the more lithium-ion batteries it has needed. Last year consumer products accounted for the production of lithium-ion batteries with a total storage capacity of about 45 gigawatt-hours (GWh). In the same year production of lithium-ion batteries for electric vehicles reached just over half that capacity: 25GWh.
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