Lithium-ion batteries are used in many types of devices including over 60% of mobile phones and 90% of laptop computers. These batteries are inside iPods and iPads, as well as military and medical hardware. They are even powering pacemakers in the human body. However, the most significant growth in demand for Lithium-ion batteries is in the hybrid/electric vehicle market. This market is conservatively estimated to grow from 2,400 units in 2008 to 1.53 million units by 2015.
A major contributor to the increased development of battery powered vehicles is President Obama’s economic stimulus plan. The plan includes $5 billion for the development of a domestic battery industry including: $2 billion in loans, grants and tax credits to help stimulate the development and large-scale domestic production of advanced, lithium-ion batteries for hybrid and electric cars. Up to $2.4 billion in tax credits for building battery plants. Another bonus included is a $7,500 tax credit for people who purchase plug-in hybrid cars, which will indirectly boost lithiumion battery production.
In recent years, the public has insisted on renewable energy sources in their vehicles to end dependence on traditional fuel sources. Soaring gas prices, national security, federal incentives, ecological risks associated with oil drilling, and global warming have accelerated the need to develop alternative fuel sources. As a result, safe and effective Lithium-ion batteries have never been more in demand.
Lithium Ion Battery testing for vehicles