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NEWS






                 EV Battery Sales upheld by rapid adoption of EVs

                       ccording to a study, global sales of   growth prospects of the electric vehicle   density, charge discharge, and thermal
                       electric vehicle batteries surpassed   battery market.         performance. Prospects of the electric
                 Aa valuation of US$ 90,700 million   According to the study, although EVs   vehicle battery market will be promising, as
                 in 2018 and are anticipated to register a   continue to gain popularity for their lower   cell manufacturers are also directing their
                 Y-o-Y growth of approximately 14% in   running cost, increased interior space, and   focus towards innovative concepts such as
                 2019. Growing popularity and demand   unique exterior styling, many customers still   solid-state technology, lithium-air batteries,
                 for electric vehicles (EVs), owing to   express concerns over their cost premium   and alternative metal-ion chemistries.
                 increasing efforts to reduce emissions   and lack of charging infrastructure. This    The electric vehicle battery market
                 and ease pollution, continue to impact the   has led to introduction of new battery   is projected to register a value CAGR
                 sales of electric vehicle batteries.   cells and reduction of battery pack mass,   of 13.6% during the forecast period of
                   The study finds  that governments in   resulting in improvements in energy   2017-22
                 various regions across the globe are
                 pushing the adoption of EVs that will
                 contribute  to  an  effective  reduction  in
                 emissions of greenhouse gases. This,
                 coupled with growing consumer concerns
                 regarding negative impact of climate
                 change and alarming rise in pollution levels
                 has influenced growth in EV production,
                 subsequently boosting the sales of electric
                 vehicle batteries. Additionally, around 20
                 major cities worldwide have announced
                 the plans to ban gasoline and diesel cars
                 by 2030 or sooner, providing potential















































              www.trafficinfratech-com-500653.hostingersite.com                                                             April - May ’19 / TrafficInfraTech  13
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