What is in Store of the Electric Car Industry?
By guestposter Feb 04, 2011
General Motors (GM) introduces their first plug-in hybrid electric vehicle during mid-December of 2010. The Chevrolet Volt is one of the most-fuel efficient cars sold in the United States which runs on lithium-ion batteries.
As reported, GM had decided to work exclusively with Detroit-based unit of South Korea’s LG Chem to provide and develop the battery systems for the first model version of the Volt. GM’s Volt uses lithium ion batteries similar with those batteries being used in gadgets and other electronic devices.
Businesses are now taking a strategic advancement to effectively source materials like lithium, for alternative energy technologies. The growing demand does not only affect the commodity prices, it is also leading to a higher notch of research and development in creating alternative battery chemistries. With such increasing demand on the production of lithium ion batteries, majority of the produces are innovating and are currently utilizing new variants on lithium-ion chemistry that partakes energy density to provide extreme power density, fast-charging capacity and environmental adaptability. Finding out the best lithium ion alternative is just like finding out what fitness program works best for you.
General Motors says that you can use the electric powered vehicles exclusively for up to 40 miles of your trip. So if you’re distance from your workplace is less than 20 miles, you may be able to drive to and from work using only the electricity. One advantage of Chevy Volt is that it switches to a gas engine once electricity runs out, unlike its pure electronic counterparts.
Moreover, If GM’s Volt succeeds in this endeavor, it could create a bigger demand and more contracts for battery producers such as A123 and LG Chem. Thus, lithium ion car battery-pack suppliers themselves will have a bountiful business in the years to come if sales come close to projections.
The future for them looks brighter than say a fat guy trying to figure out how to lose weight fast.