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As is well known, new market demand for lithium-ion batteries is rapidly forming. Lithium ion batteries are currently divided into three major sections. The first one is consumer electronics products. Nowadays, the vast majority of mobile devices, smartphones, and laptops already use lithium-ion batteries, and this market capacity can be calculated in billions of units. The second is the emerging demand for electric vehicles, whether they are pure electric vehicles or plug-in hybrid vehicles, which has gradually formed. The third thing to remind colleagues is that in the future, lithium-ion batteries will be used in the field of energy storage. Its market capacity will be even broader than that of electric vehicles, and its market can even be measured by a trillion yuan output value. The demand for electric vehicles and energy storage markets has created a new market space for lithium-ion batteries. At present, a group of companies with technological foundation and processing capabilities are growing very rapidly, and the technological progress of power lithium-ion batteries is also very rapid.

Lithium ion batteries are currently one of the commonly used types of batteries in electric vehicles and are being increasingly used in new energy vehicles. Although lithium-ion batteries cannot be compared to gasoline in terms of energy density, other battery technologies still find it extremely difficult to reach the level of lithium-ion batteries. Lithium ion batteries are irreplaceable by other batteries in terms of energy density and service life. From Lead–acid battery, Nickel–cadmium battery, Nickel–metal hydride battery, to lithium ion battery, energy density has been constantly improving.

At present, mainstream electric vehicles are equipped with two types of lithium-ion batteries: Lithium iron phosphate ion batteries and ternary lithium-ion batteries. Compared with Lithium iron phosphate ion batteries, ternary lithium ion batteries have much higher weight and energy density. In addition, ternary lithium ion batteries have much higher low-temperature resistance than Lithium iron phosphate ion batteries in winter. It means that the ternary lithium ion battery with the same weight has a longer range than the Lithium iron phosphate ion battery. Since there is little room to improve the energy density of Lithium iron phosphate ion batteries, and ternary lithium ion batteries still have room for development, ternary lithium ion batteries will become the technical trend of electric vehicles in the future.

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