Electric cars bring the last of oil?

Bloomberg's report shows that electric cars have a large portion of the lithium-ion battery supply. Lithium ion batteries can now become dominated by a new industry.



Batteries, which are the number one energy storage unit of consumer electronics for decades, are now dominated by electric cars. Lithium ion batteries used in smart phones before classical mobile phones, watches, camcorders and laptop computers were introduced to consumer electronics 12 years ago. The first appearance of lithium ion batteries in electric cars in 2006 was the first to signal that batteries will be the main component of a very different category of products in the future. The stunning report from Bloomberg shows that lithium-ion batteries now become a favorite with electric cars.

 Topped with lithium ion battery

Although we started to see lithium ion batteries in electric cars in 2006, we had to wait at least 8 years before electric cars became widespread. By 2014, electric cars have spent 15,000 megawatts of energy around the world for 8 years. Of course, it was lithium ion batteries that stored the energy and electric power of the electric cars. According to data from energy company Avicenne, 25 percent of the world's lithium-ion battery supply was spent for 15,000 megawatt hours of energy spent over 8 years. So now electric car manufacturers have become an important customer for companies producing lithium ion batteries.

After 2014, the use of electric cars has exploded compared to previous years. Of course, there were two main reasons behind this big jumper: Volkswagen's emission scandal and work to reduce carbon dioxide emissions following this scandal. While the European Union has created a timeline for banning gasoline / diesel cars, it has begun offering electric vehicle incentives for both customers and car manufacturers. The end of these efforts was found in Avicenne's account. In 2014-2017, electric automobiles spent 71 thousand megawatt hours of energy worldwide. This shows that more than four times the energy consumed in the previous 8 years spent in just 3 years.

Electric cars' energy consumption reaches a record 2016 in 3 years, because in 2016, electric cars were the first to use 50 percent of the world's lithium-ion battery supply. Thus, consumer electronics industry, the main customer of lithium ion generators for decades, was no longer the main customer. Experts think that the amount of energy used by electric cars over the next 5 years will make a jump similar to the splash of 2014-2017.

The dominance of petrol can be over

Ravi Manghani, an analyst at GTM Research, thinks we are at a turning point in lithium-ion batteries for the moment. According to Manghani, the amount of lithium-ion batteries used each year will continue to slide towards electric cars. Increased sales of electric cars and a decrease in demand for smartphones also indicate that the use of lithium-ion batteries will increase the gap between the electric car sector and the consumer electronics sector. According to Bloomberg, an increase in the use of electric cars and renewable energy sources could end the dominance of oil in automobiles. So what do you think, lithium ion batteries could be the oil of the future?

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