A comprehensive overview of electric vehicle batteries market

As there is growth in the population rate in the past few years, the number of vehicles on the roads has also increased. Thus, emissions of CO2 and hydrocarbons have risen, drastically. This problem has led to the success of the battery market, mostly in Electric Vehicle (EV) industry. Numerous research studies are going into the field of battery technology. The battery market is a Billion-Dollar market, annually. According to a market research report, the global battery market size in 2014 was 62 Billion US Dollars. Lead-Acid, Nickel Metal Hydride, and Lithium-ion batteries are the commonly used types of batteries for Electric-Drive Vehicles (EDVs), including Battery Electric Vehicles (BEVs), Hybrid Electric…