Recent and continuing research into lithium batteries promises to enhance performance and increase the demand for the element, with innovations in manufacturing lowering the cost of making products which utilize lithium, such as electric vehicles.
Enhancing performance and increasing demand
Electric Vehicles Are Better Vehicles
Electric cars use less energy than traditional gasoline vehicles and require less energy to go the same distance. They are also able to convert and use energy created by alternative sources such as friction in the form of regenerative braking. It is reported that electric vehicles only require one-third of the energy a gas-powered car requires for the same performance.
Electric cars are cheaper to run than conventional cars, with driving on electricity up to 50% cheaper as it’s more efficient and less expensive than gasoline. Electric cars are currently more expensive than gas-powered cars. But with the costs decreasing due to improved technology and scaled-up production, we can expect to see the price fall dramatically in the near future.
Electric cars have no emissions, and with economies gradually turning away from greenhouse-gas sources and to renewables, the emissions advantage will be amplified and we could even see subsidies come into play in favor of electric cars.
Unlike owners of conventional gas cars, electric car owners can ‘refill’ at home; just pull into your garage and plug in. Being able to charge electric cars from home means they can be left to charge overnight.