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As is well known, the new market demand for lithium-ion batteries is rapidly forming. Lithium ion batteries are currently divided into three main blocks. 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. 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 point to remind colleagues is that in the future, lithium 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 production capacity are growing very rapidly, and the technological progress of power lithium batteries is also very rapid.

Lithium ion batteries are one of the commonly used types of batteries in electric vehicles and are increasingly being used in new energy vehicles. Although lithium-ion batteries cannot compare to gasoline in terms of energy density, it is still extremely difficult for other battery technologies 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 batteries, nickel cadmium batteries, nickel hydrogen batteries, to lithium-ion batteries, energy density has been continuously improving.

At present, mainstream electric vehicles are equipped with two important types of lithium-ion batteries: iron phosphate lithium-ion batteries and ternary lithium-ion batteries. Compared to lithium iron phosphate batteries, ternary lithium-ion batteries have much higher weight and energy density. In addition, ternary lithium-ion batteries have much higher low-temperature resistance in winter than lithium iron phosphate batteries. This means that ternary lithium-ion batteries of the same weight have a longer range than lithium iron phosphate batteries. Due to the limited space for improving the energy density of lithium iron phosphate batteries, while there is still room for development in ternary lithium-ion batteries, ternary lithium-ion batteries will become a technological trend for electric vehicles in the future.

From the current perspective, the requirements for electric vehicles and energy storage applications include safety, high energy density, long lifespan, low cost, and the industrialization of products with mature technologies to match the rapid development of these two industries. Looking at it now, lithium-ion power lithium batteries are currently the best choice. The vast market demand is also attracting a lot of research and manufacturing investment into this industry, promoting the rapid development of lithium-ion battery technology, so this industry has been developing very quickly recently.

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