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Electric Vehicle (EV) sales and adoption have seen a significant growth in recent years, thanks to advancements and cost reduction in lithium-ion battery technology, attractive performance of EVs, governments’ incentives, and the push to reduce greenhouse gases and pollutants. In this article, we will explore the progress in lithium-ion batteries and their future potential in terms of energy density, life, safety, and extreme fast charge. We will also discuss material sourcing, supply chain, and end-of-life-cycle management as they have become important considerations in the ecosystem of batteries for the sustained growth and adoption of EVs. With significant government and private sector investments in research and development, processing, and manufacturing and advances in anodes (lithium and silicon), cathodes (high nickel), designs, supply chain development, and the circularity of lithium-ion batteries, lithium-based batteries are on track to make EVs mainstream, addressing climate concerns of fossil-fueled vehicles.
Ahmad Pesaran (2023) studied this question.