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Investment from Automotive Companies to Drive Lithium-Ion Batteries Market

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Published on : Mar 10, 2016

Lithium-ion batteries refer to rechargeable batteries that are available in various forms. These batteries offer a number of benefits to the end-use industries in which they are used. Advantages such as increased efficiency and longer life compared to other batteries make them a perfect choice across the automotive sector where the success of electric and hybrid vehicles has boosted their demand in several Asia Pacific countries. The global lithium-ion battery market has been propelled by the significant growth in the number of smartphones and tablets users. The increasing efficiency of lithium-ion batteries, rising demand from the automotive sector, and the implementation of government regulations against the use of hazardous materials have further augmented the growth of the market. The overall market has a huge opportunity to grow with rising energy requirements of electronic gadgets and growing demand from emerging application segments such as military and medical. However, the lithium-ion battery market will be restricted by the high price of these batteries and the rising risk of fire in electronic devices and hybrid vehicles.

Daimler Invests in Building Second Lithium-Ion Battery Manufacturing Unit in Germany

Understanding the importance of lithium-ion batteries across the automotive sector, top automobile companies are investing in building manufacturing facilities for lithium-ion batteries. This will further boost the global lithium-ion batteries market. According to news reports, the German automobile company Daimler AG has invested a huge sum of €500 million for building a second lithium-ion battery production unit in Germany. This new production unit will manufacture lithium-ion batteries to be used across electric vehicles and hybrids launched under the Mercedes-Benz brand. The decision to build the new manufacturing facility will almost triple the production space of Daimler’s subsidiary Deutsche ACCUMOTIVE. Daimler has purchased 20 hectares of land for constructing this unit.

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