Battery technology is at the core of what is needed to further drive electric vehicle adoption. The issue is mainly lowering the cost of batteries, which can be achieved by the use of plastics. While advanced battery chemistries and huge advances in energy storage density are alluring, slow, steady, incremental improvements in all facets of lithium-ion cells will power electric cars for at least the next 10 years. Lithium-ion batteries are flourishing in a wide spectrum of application which comprise of cars, buses, commercial vehicles and more. According to a recent article published in ‘The Economist’, electric cars will reach in huge numbers more quickly than estimated, and the transition away from internal-combustion cars could prove painful for automakers. Moreover, it is also anticipated that the prices of battery would remain to fall, and tougher emissions standards is likely increase the pressure on automakers to build larger numbers of electric cars. The Asia-Pacific region is continuing to corner this market, especially in China. In July 2016, the market share for electric vehicles (EV) in China broke through the 1% barrier, up to 1.1% of all new car sales.
Formula One is a hothouse for the growth of ultra-high-speed, light-weight, tough, crash-resistant materials. In 2017, ingredients and technologies developed in Formula One is likely to keep evoluting into mainstream manufacture. Cost is a major factor for OEM producers, however, they are already achieving high quality with reduced costs. The use of new and innovative materials shows the serious competitive edge that the large-scale manufacturers get. But new materials are only half the story. New vehicles mean new processes. The development of EVs and hybrids mean many manufacturing processes are being turned on their head. On a similar note, new mild hybrid vehicles are novel concept which are forecasted to acquire EV modes of operation within next five years.
A hybrid electric vehicle (HEV) has two kinds of energy storing units which comprise of electricity and fuel. In electricity storage units, a battery is used to store the energy while in fuel storage units, a tank is required and an internal combustion engine is used to generate the mechanical power. Hybrid electric vehicles extensively use lithium-ion batteries. Various major companies are involved in this market and they are constantly producing lithium-ion batteries used for electric vehicles. For instance, Hitachi has been at the forefront, establishing full-scale production of Lithium-Ion Batteries for hybrid electric vehicles and supplying the product to customers in Japan, North America and other countries around the world.
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