As per a survey conducted by EV-Volumes.com, in 2019, 12,358 batteries were sold across the world as compared to 2018, which was much higher by 23,677.
The comparison of such sales depends upon the production and how many vehicles have been in demand and also sold. However, as with the latest trend, auto productions are turning into batteries-driven vehicles.
The market for an effective and long-lasting durable Li-ion battery is no doubt a huge profit-generating market. The future is predicted to use a sustainable battery that can be recyclable up to a certain period without discharging and solving the issues of what should the residues of such used batteries should be done.
USA is definitely leading the area. But, in my opinion, if it’s possible to concentrate in the battery market, it is designed with new opportunities to increase the production of such batteries for electric vehicles.
The market with innovative ideas can find better partnerships with the electric vehicle manufacturer and provide a better solution.