The future of the auto industry may boil down to the difference made by a single letter: R. As in, the difference between a lithium-ion battery, like those found in today’s electric vehicles made by Tesla and others, and the lithium-iron phosphate batteries coming soon to market.

As Elon Musk’s Tesla has been talking up new battery technology development as part of the lead-up to the company’s first-ever Battery Day for investors, Wall Street is buzzing about the difference the next generation of batteries may make.

Lower-Cost, ‘Million-Mile’ Electric-Car Batteries | Devamı>>>

Electric vehicles are forecast to drive world’s demand for energy storage

Global battery prices have fallen 85 percent since 2010, BloombergNEF reports in its annual Lithium-Ion Battery Price Survey, and storage is forecast to grow to 14 times its current level by 2030 as millions of electric vehicles hit the roads.

BNEF predicts demand will total 1,851 gigawatt-hours in 2030, up from the current 132. EV batteries are expected to account for 84 percent of that.

Global Demand for Batteries Multiplies | Devamı>>>