It is well known that new market demands for lithium-ion batteries are taking shape very rapidly. Lithium-ion batteries are currently divided into three major categories. The first is consumer electronic products. Nowadays, lithium-ion batteries are widely used in mobile devices such as smartphones and laptops. The market capacity of this market can basically be calculated in the hundreds of billions. The second is the emerging demand for electric vehicles. Whether it is pure electric vehicles or plug-in hybrid vehicles, the current demand has gradually taken shape. Thirdly, lithium batteries will be used in the field of energy storage in the future. Its market capacity will be even broader than that of electric vehicles, and its market can even be measured by a value of trillions.

The demands of the electric vehicle and energy storage markets have created a brand-new market space for lithium-ion batteries. At present, a number of enterprises with technical foundations and production capabilities are growing very rapidly, and the technological progress of power batteries is also extremely fast.

Lithium batteries are one of the commonly used battery types in electric vehicles at present and are being adopted by an increasing number of new energy vehicles. Although lithium-ion batteries simply cannot compare with gasoline in terms of energy density, it is still extremely difficult for other battery technologies to reach the level of lithium-ion batteries. Lithium-ion batteries are irreplaceable by other batteries in terms of energy density and service life. From lead-acid batteries, nickel-cadmium batteries, nickel-metal-hydride batteries to lithium-ion batteries, the energy density has been constantly increasing. At present, the lithium batteries mainly equipped in mainstream electric vehicles include two types: lithium iron phosphate batteries and ternary lithium batteries. Compared with lithium iron phosphate batteries, ternary lithium batteries have a much higher weight energy density. In addition, the low-temperature resistance of ternary lithium batteries in winter is much better than that of lithium iron phosphate batteries. This means that ternary lithium batteries of the same weight have a longer driving range than lithium iron phosphate batteries. As the space for improving the energy density of lithium iron phosphate batteries is already very limited, while there is still room for development for ternary lithium batteries, ternary lithium batteries will become the technological trend of electric vehicles in the future.

At present, the requirements for electric vehicles and energy storage applications call for products that are safe, have high energy density, long lifespan, low cost, and possess relatively mature technologies to be industrialized, in order to match the rapid development of these two industries. Now, it can be seen that lithium-ion power batteries are currently the best choice. The vast market demand is also attracting a large amount of investment in research and development and manufacturing into this industry, promoting the rapid development of lithium-ion battery technology. Therefore, this industry has developed very fast recently. When it comes to power batteries, they are actually very important in terms of technology. Power batteries pursue performance in five aspects. Safety is the top priority. The other two pursuits are energy density and power density. Then, the service life is very important.