Lithium fell to 73,600 CNY/T on September 26, 2025, down 0.20% from the previous day. Over the past month, Lithium's price has fallen 9.79%, and is down 2.52% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Lithium - values, historical data, forecasts and news - updated on September of 2025.

The lithium-ion battery pack price dropped to *** U.S. dollars per kilowatt-hour in 2024, down from over *** dollars per kilowatt-hour a year earlier. Lithium-ion batteries are one of the most efficient energy storage devices worldwide. Over recent years, high-scale production and capital investment into the battery production process have made lithium-ion battery packs cheaper and more efficient. This demonstrates a staggering demand for energy storage worldwide and could be attributed to the fact that the world is moving towards a renewable energy-based economy where electric vehicles play an increasingly large role. Electric vehicle sales Individuals, organizations, and governments aim to reduce their environmental footprint as awareness about the consequences of climate change becomes more widespread. To contribute to a greener society, they promote the growth of the electric vehicle market to make transportation more sustainable and less polluting. When it comes to the sales volume of electric vehicles, the trend is staggeringly positive. For instance, global plug-in electric light vehicle (PEV) sales have progressively increased since 2015, surpassing **** million units sold in 2023. Environmental impact Incorrect disposal of Li-ion batteries can have a devastating environmental impact on the environment, sparking the need for recycling. The global market for lithium-ion battery recycling is expected to reach **** billion U.S. dollars by 2030. This figure compares to around *** billion U.S. dollars in 2023.

In 2022, the average price of battery-grade lithium carbonate stood at ****** U.S. dollars per metric ton. This figure is by far the highest price for battery-grade lithium carbonate recorded in the period of consideration. For 2024, lithium carbonate price was estimated at ****** U.S. dollars per metric ton. Lithium is a highly reactive soft and silvery-white alkali metal. As the third element in the periodic table, it cannot be found in its pure form in nature. Lithium is the least dense of solid elements and the lightest out of all metals. Lithium and batteries One of lithium’s most well-known end uses is in lithium-ion batteries. Lithium-ion batteries are rechargeable and mostly used in portable electronics and electronic vehicles. In lithium-ion batteries, the lithium ions move from the negative electrode to positive electrode while in use, and the process is reversed while charging. These batteries are highly flammable but are also low-maintenance. They have a high energy density and a low self-discharge. Some drawbacks include the fact that they are expensive to manufacture, and that they require protection circuits to maintain the voltage safely. Lithium-ion batteries are also the single-largest end use of lithium, amounting to an ** percent share of global lithium consumption in 2024. Lithium demand forecasts Looking to the future, lithium demand is forecast to stand at *** million tons by 2025. This growth will be mainly driven by lithium-ion battery demand for electric vehicles. Demand is expected to remain the highest in China, which will consistently account for half of global lithium-ion battery demand.

Why did the Lithium Carbonate Price Change in July 2025? The Lithium Carbonate Price Index in the U.S. averaged USD 9,357/MT DDP USGC in Q2 2025, continuing a downward trajectory from earlier in the year as battery producers curtailed spot purchases.

The total cost of producing battery grade lithium carbonate by 2025 is expected to amount to approximately ***** and ***** U.S. dollars per ton of lithium carbonate equivalent from brine and spodumene, respectively. For the production of battery grade lithium carbonate from spodumene, the highest costs are forecast to be allocated in the processing of this mineral.

Why did the Lithium Metal Price Change in July 2025? The Lithium Metal Price Index in the U.S. declined by 6.8% quarter-over-quarter in Q2 2025, reflecting a volatile and bifurcated market. While April and May were dominated by bearish sentiment tied to global oversupply and soft EV demand

Snapshot img

Lithium Market Size 2023-2027

The lithium market size is valued to increase by 1066.47 thousand t, at a CAGR of 25% from 2022 to 2027. Surge in demand from diversified applications will drive the lithium market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 70% growth during the forecast period.
By Application - Batteries segment was valued at USD 148.29 thousand t in 2021
By Product - Carbonate segment accounted for the largest market revenue share in 2021

Market Size & Forecast

Market Opportunities: USD 513.91 thousand t
Market Future Opportunities: USD 1066.47 thousand t
CAGR from 2022 to 2027: 25%

Market Summary

Lithium, a lightweight metal with exceptional electrochemical properties, occupies a pivotal position in the global energy transition. The market's expansion is underpinned by its increasing demand in various sectors, including batteries for electric vehicles (EVs) and renewable energy storage systems. According to the latest market intelligence, the market was valued at approximately USD 16.7 billion in 2020, signaling a significant growth trajectory. Key drivers fueling this trend include advancements in battery technology, stringent environmental regulations, and the increasing adoption of EVs. Moreover, the expanding renewable energy sector, particularly wind and solar, is expected to contribute substantially to the market's growth.
However, challenges remain, such as the rise in availability of substitute products, including nickel-manganese-cobalt (NMC) and lithium-ion phosphate (LFP) batteries, and the need for sustainable and ethical sourcing practices. To meet the escalating demand, major players are investing in capacity expansions. For instance, Albemarle Corporation, a leading lithium producer, announced plans to double its production capacity by 2025. Similarly, Ganfeng Lithium, the world's largest lithium producer, aims to boost its output by 50% by 2023. These efforts will not only cater to the growing demand but also ensure a stable supply chain for the industry. In conclusion, the market's evolution is shaped by its diverse applications, growing demand, and investments in capacity expansions.
Despite challenges, the market is poised for continued growth, driven by the global shift towards sustainable energy sources and the increasing adoption of electric vehicles.

What will be the Size of the Lithium Market during the forecast period?

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How is the Lithium Market Segmented ?

The lithium industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD thousand t' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.

Application

  Batteries
  Ceramics and glass
  Grease
  Polymer
  Others


Product

  Carbonate
  Hydroxide
  Metal
  Chloride
  Others


Source

  Brine
  Hardrock


End-user Industry

  Automotive
  Electronics
  Energy Storage
  Aerospace
  Industrial
  Healthcare
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Application Insights

The batteries segment is estimated to witness significant growth during the forecast period.

The market is experiencing continuous evolution, with the batteries segment leading the way due to surging demand from electric vehicles (EVs), consumer electronics, and grid-scale energy storage applications. Lithium-ion batteries, renowned for their high energy density, low weight, and size, are at the forefront of this growth. Government regulations and subsidies for EVs further fuel market expansion. By 2025, the lithium-ion battery market is projected to grow significantly, driven by the escalating need for these batteries in the EV industry and the declining costs of battery technology. Advanced electrode manufacturing techniques, fast charging capabilities, and battery cell design innovations are shaping the future of lithium-ion batteries.

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The Batteries segment was valued at USD 148.29 thousand t in 2017 and showed a gradual increase during the forecast period.

Material science advancements, including battery safety standards, electrolyte formulation, and cathode material composition, are also crucial to enhancing battery performance and longevity. For instance, cycle life testing, impedance spectroscopy, and x-ray diffraction analysis are essential for understanding battery degradation mechanisms and improving battery production processes. With a focus on energy storage systems integration, battery pack assembly, and battery management systems, the

Lithium Market Outlook

The global lithium market size was valued at approximately USD 8.3 billion in 2023 and is expected to reach around USD 26.9 billion by 2032, exhibiting a robust compound annual growth rate (CAGR) of 14.2% during the forecast period. This impressive growth trajectory is primarily driven by the burgeoning demand for lithium-ion batteries, pivotal in propelling the electric vehicle (EV) revolution and portable consumer electronics. The increasing commitment of governments worldwide to transition to renewable energy and reduce carbon emissions is another significant driver, further catalyzing the adoption of lithium-ion technologies across various sectors.

A critical growth factor for the lithium market is the rapid expansion of the electric vehicle (EV) sector. With automotive giants and startups alike accelerating their production of electric models, the demand for lithium, a key component in EV batteries, has surged. Policies aimed at reducing dependency on fossil fuels and incentivizing cleaner transportation options are amplifying this trend. For instance, several countries, including China, the United States, and members of the European Union, have set ambitious targets for EV adoption, fueling substantial investments in lithium extraction and battery production facilities. Additionally, advancements in battery technology that increase energy density and reduce costs are making EVs more accessible to the mass market, thereby increasing lithium demand.

The proliferation of renewable energy initiatives and the associated need for efficient energy storage solutions present another growth vector for the lithium market. Renewable energy sources like solar and wind are inherently intermittent, necessitating reliable storage solutions to ensure a stable power supply. Lithium-ion batteries have emerged as the preferred choice due to their high energy density, efficiency, and declining costs. As countries globally push towards achieving sustainable energy goals, the deployment of large-scale lithium-ion battery storage systems is anticipated to expand, further bolstering the market. Additionally, advancements in grid infrastructure that integrate renewable energy sources are expected to contribute significantly to the growing demand for lithium-based solutions.

Technological innovation and increased investment in research and development are further enhancing the growth prospects of the lithium market. Research into alternative lithium extraction methods, such as direct lithium extraction (DLE) from brines, is gaining traction, promising more environmentally friendly and cost-effective solutions than traditional mining methods. Moreover, ongoing improvements in battery recycling technologies aim to recover lithium from spent batteries efficiently, reducing dependency on new lithium extraction and supporting circular economy initiatives. These technological advancements are critical for meeting future lithium demand sustainably and mitigating environmental impacts associated with lithium production.

Regionally, Asia Pacific is expected to dominate the lithium market due to its robust manufacturing base and rapidly growing EV industry. The presence of major battery manufacturers and a conducive regulatory environment further bolster this region's growth. In contrast, North America and Europe are experiencing heightened demand driven by policy incentives and technological innovation. Latin America, home to the 'Lithium Triangle'—a region abundant in lithium reserves—is emerging as a key player in the supply chain, while the Middle East & Africa are gradually increasing their market presence with investments in mining and battery manufacturing.

Type Analysis

The lithium market is segmented into various types, including lithium carbonate, lithium hydroxide, lithium chloride, and others, each playing a distinct role in diverse applications. Lithium carbonate is currently the most widely used type, primarily due to its application in the production of lithium-ion batteries. As the demand for electric vehicles and portable electronic devices continues to grow, the consumption of lithium carbonate is expected to see a significant rise. This compound is also used in the manufacturing of glass and ceramics, where it enhances the physical properties of the materials. Thus, the multifaceted applications of lithium carbonate make it a cornerstone of the lithium market.

Lithium hydroxide is gaining prominence due to its superior performance in high-nickel content lithium-ion batteries, which offer higher energy densities. This type is incre

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North America Lithium-ion battery Market Size 2024-2028

The North America lithium-ion battery market size is forecast to increase by USD 20.03 billion at a CAGR of 18% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The high adoption of wearable technology and electric vehicles is driving the demand for lithium-ion batteries. Additionally, the decline in lithium-ion battery prices has made them more affordable for consumers. However, the availability of substitute products, such as nickel-cadmium and nickel-metal hydride batteries, poses a challenge to the market.
To stay competitive, market players are focusing on improving the performance, safety, and cost-effectiveness of lithium-ion batteries. As the market continues to evolve, it is essential for businesses to stay informed about the latest trends and challenges to make informed decisions and capitalize on opportunities.

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The Lithium-Ion Battery (Li-ion) market in North America is witnessing significant growth due to the increasing demand for energy storage solutions in various sectors. This trend is driven by the shift towards renewable energy sources, energy efficiency, and sustainable energy. Energy Management and Grid Storage are key areas where Li-ion batteries are gaining popularity. The integration of renewable energy sources into the power grid requires efficient energy storage solutions to ensure a stable power supply. Li-ion batteries offer high energy density, long cycle life, and excellent power characteristics, making them an ideal choice for grid storage applications.
Additionally, Microgrids and Off-Grid Power Systems are another growing area for Li-ion batteries. These systems are essential for energy security and are particularly useful in remote locations where access to the main power grid is limited. Li-ion batteries provide a reliable and efficient power source for these systems, enabling energy conservation and reducing the carbon footprint. Safety and Performance are critical factors in the Li-ion battery market. Industrial safety regulations and CAFE standards are driving the development of safer battery technologies. Battery Management Systems (BMS) are being used to optimize battery performance, ensure safety, and prolong battery life. Research and development in battery technology are focused on improving battery safety, increasing energy density, and reducing battery degradation.
Moreover, electric Mobility and Material Handling Equipment are significant applications for Li-ion batteries. The increasing adoption of electric vehicles and the shift towards automated material handling systems are driving the demand for portable Li-ion batteries. These batteries offer high energy density, long cycle life, and fast charging capabilities, making them an ideal choice for these applications. Power Distribution and Power Electronics are other areas where Li-ion batteries are being used extensively. The high power density and excellent power characteristics of Li-ion batteries make them suitable for power distribution applications. In power electronics, Li-ion batteries are used for energy storage and power backup, providing a reliable power source for various applications.
In conclusion, Wind Energy and Solar Energy are two major renewable energy sources where Li-ion batteries are being used for energy storage. The intermittent nature of these energy sources requires efficient energy storage solutions to ensure a stable power supply. Li-ion batteries offer high energy density, long cycle life, and excellent power characteristics, making them an ideal choice for renewable energy storage applications. Battery Recycling is another area of focus in the Li-ion battery market. The increasing adoption of Li-ion batteries and the need to reduce the environmental impact of battery disposal are driving the development of battery recycling technologies. These technologies aim to recover valuable materials from used batteries and reduce the carbon footprint of battery production. In conclusion, the market is witnessing significant growth due to the increasing demand for energy storage solutions in various sectors. The shift towards renewable energy sources, energy efficiency, and sustainable energy are key drivers of this growth. The focus on safety, performance, and recycling is expected to continue driving the development of Li-ion battery technology in the future.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Lithium nickel manganese cobalt
  Lithium iron phosphate
  Lithium cobalt oxide
  Ot

This statistic represents a cost breakdown of lithium-ion batteries in the United States in 2016, categorized by component. In that year, pack materials accounted for some ** percent of the total cost of lithium-ion batteries in the U.S.

The lithium-ion battery material market is experiencing robust growth, driven by the increasing demand for electric vehicles (EVs), energy storage systems (ESS), and portable electronics. The market's expansion is fueled by several key factors, including government initiatives promoting electric mobility and renewable energy adoption, advancements in battery technology leading to higher energy density and longer lifespan, and the declining cost of lithium-ion batteries. While precise market sizing data wasn't provided, considering the current market trends and the growth rate of related sectors like EVs and renewable energy, a reasonable estimation places the 2025 market value at approximately $50 billion. Assuming a conservative Compound Annual Growth Rate (CAGR) of 15% for the forecast period (2025-2033), the market is projected to reach a substantial size by 2033. Major players like CATL, LG Energy Solution, and Panasonic, along with numerous Chinese manufacturers such as those listed, are actively competing to secure market share through innovation and strategic partnerships. However, challenges persist. Fluctuations in lithium prices, geopolitical uncertainties impacting raw material supply chains, and environmental concerns related to lithium mining and battery recycling pose significant restraints. The market segmentation is complex, encompassing various materials like lithium carbonate, lithium hydroxide, cathode materials (NMC, LFP, LCO), anode materials (graphite), and electrolytes. The competitive landscape is intensely dynamic, with established players and emerging companies vying for dominance in different segments. Geographic distribution is expected to be heavily skewed towards regions with strong EV adoption and advanced manufacturing capabilities, such as Asia (particularly China), Europe, and North America. Further market penetration hinges on technological breakthroughs addressing battery limitations, including energy density, safety, and cost-effectiveness. Successful navigation of these challenges will be crucial for continued market growth.

The average lithium carbonate import price stood at $9,048 per ton in May 2025, declining by -3.1% against the previous month.

In April 2023, the price of Lithium Carbonate was reported at $67,831 per ton (CIF, Japan), a 1.6% increase compared to the previous month.

The lithium market size is projected to grow from USD 22.48 billion in 2024 to USD 155.7 billion by 2035, representing a CAGR of 19.23%, during the forecast period till 2035

Snapshot img

Laminate Lithium-Ion Battery Market Size 2024-2028

The laminate lithium-ion battery market size is forecast to increase by USD 20.6 billion at a CAGR of 13.17% between 2023 and 2028.

The market is experiencing significant growth due to the increasing demand for high-performance batteries. This trend is driven by the widespread adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), which require advanced battery technology to deliver optimal power and efficiency. However, the high cost of lithium-ion batteries remains a major challenge for market growth. To address this issue, manufacturers are exploring alternative materials and production methods to reduce costs while maintaining battery performance. Additionally, advancements in battery technology, such as solid-state batteries and graphene batteries, may provide cost-effective solutions for the future of the lithium-ion battery market. Overall, the market is expected to continue growing as the demand for clean energy solutions increases and technology advances.

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The market encompasses rechargeable batteries utilized in various industries, including electric vehicles, consumer electronics, medical equipment, and industrial applications. These batteries, which include LCOO2 and LiFePO4 types, have surpassed nickel cadmium batteries due to their superior energy density, longer cycle life, and increased safety. The market's growth is driven by the expanding demand for portable electronic devices and the increasing adoption of electric vehicles In the transportation industry.
Furthermore, the defense industry, agricultural field, and maritime boundary disputes are among the significant end-users. Investment climates and Brexit-related uncertainties may influence the market dynamics. Additionally, advancements in technology, such as lithium-ion stacked batteries and perovskite stack batteries, offer opportunities for market expansion. Offshore exploration activities and subsea manifolds systems are other potential applications.

How is this Laminate Lithium-Ion Battery Industry segmented and which is the largest segment?

The laminate lithium-ion battery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  LiCoO2 battery
  LiFePO4 battery
  Lithium Nickel Manganese Cobalt and Others


Application

  Consumer electronics
  Automotive
  Others


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany


  South America



  Middle East and Africa

By Type Insights

The LiCoO2 battery segment is estimated to witness significant growth during the forecast period.

Lithium-ion batteries, specifically LiCoO2 and LiFePO4 types, dominate various sectors including consumer electronics, medical equipment, and electric vehicles due to their high energy density and long cycle life. LiCoO2 batteries, in particular, are widely adopted in portable electronic devices like smartphones, laptops, and digital cameras. However, their use extends to industrial applications such as new energy vehicles and offshore exploration activities. Despite their advantages, LiCoO2 batteries face challenges, including thermal instability and the scarcity and cost of cobalt, a crucial component. Alternative chemistries like Perovskite Stack Batteries and Lithium-Ion Stacked Batteries are gaining traction to address these challenges. The market for laminate lithium-ion batteries is influenced by factors such as investment climates, energy consumption trends, and advancements in digital technology.

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The LiCoO2 battery segment was valued at USD 7.58 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 51% to the growth of the global market during the forecast period.

Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia Pacific (APAC) region is experiencing significant growth In the market. Factors such as expanding economies, increasing population, and surging demand for consumer electronics and electric vehicles (EVs) are creating a favorable business climate. The need for clean energy solutions and government initiatives to promote EV adoption further boosts the market's expansion. Key players and substantial investment in research and development activities are also contributing factor

Lithium ETF stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

Germany, France, and Italy have seen a decrease in the cost of home lithium-ion batteries between 2021 and 2023. The largest price drop was observed in Italy, where the cost of lithium-ion battery storage systems decreased by around ** percent. By comparison, the cost of home battery storage systems has recorded an increase in the United Kingdom.

According to Cognitive Market Research, the global lithium-ion battery market size will be USD 1824.5 million in 2025. It will expand at a compound annual growth rate (CAGR) of 18.00% from 2025 to 2033.

North America held the major market share for more than 25% of the global revenue with a market size of USD 456.13 million in 2025 and will grow at a compound annual growth rate (CAGR) of 16.8% from 2025 to 2033.
Europe accounted for a market share of over 22% of the global revenue with a market size of USD 401.39 million.
APAC held a market share of around 42% of the global revenue with a market size of USD 766.29 million in 2025 and will grow at a compound annual growth rate (CAGR) of 19.3% from 2025 to 2033.
South America has a market share of more than 4% of the global revenue with a market size of USD 69.33 million in 2025 and will grow at a compound annual growth rate (CAGR) of 18.8% from 2025 to 2033.
Middle East had a market share of around 4% of the global revenue and was estimated at a market size of USD 72.98 million in 2025 and will grow at a compound annual growth rate (CAGR) of 18.4% from 2025 to 2033.
Africa had a market share of around 3.20% of the global revenue and was estimated at a market size of USD 58.38 million in 2025 and will grow at a compound annual growth rate (CAGR) of 16.6% from 2025 to 2033.
Lithium Nickel Manganese Cobalt Oxide (NMC) category is the fastest growing segment of the lithium-ion battery industry

Market Dynamics of Lithium-ion Battery Market

Key Drivers for Lithium-ion Battery Market

Declining Battery Costs Enhancing Market Accessibility to Boost Market Growth: The cost of lithium-ion batteries has witnessed a dramatic decline over the past decade, making stationary energy storage solutions more economically viable. Advancements in battery chemistry, manufacturing processes, and economies of scale have collectively contributed to lower production costs. This cost decline has made lithium-ion energy storage systems more accessible to residential, commercial, and utility-scale users. Lower prices have also encouraged increased investments in grid-scale energy storage projects, helping utilities manage peak demand, improve grid resilience, and integrate more renewable energy sources. Additionally, innovations in battery recycling and second-life applications for retired electric vehicle (EV) batteries are further driving cost reductions, making lithium-ion batteries an increasingly attractive solution for stationary energy storage applications. For instance, the growth in EV sales is pushing up demand for batteries, continuing the upward trend of recent years. Demand for EV batteries reached more than 750 GWh in 2023, up 40% relative to 2022, though the annual growth rate slowed slightly compared to 2021?2022. Electric cars account for 95% of this growth. Globally, 95% of the growth in battery demand related to EVs was a result of higher EV sales. In comparison, about 5% came from a larger average battery size due to the increasing share of SUVs within electric car sales.

https://www.iea.org/reports/global-ev-outlook-2024/trends-in-electric-vehicle-batteries

Renewable Energy Integration Driving Demand for Energy Storage To Boost Market Growth: The increasing global shift toward renewable energy sources, such as solar and wind power, is a major driver for the lithium-ion battery market in stationary applications. Unlike conventional fossil fuel-based power generation, renewable energy is inherently intermittent, meaning that energy production fluctuates based on weather conditions and time of day. This variability creates a pressing need for efficient energy storage solutions that can store excess energy during peak production and release it when demand is high. Lithium-ion batteries, particularly Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC) chemistries offer high efficiency, fast response times, and scalable deployment options, making them ideal for renewable energy storage. Governments worldwide are implementing policies and incentives to support energy storage projects, further accelerating market growth. As the adoption of renewable energy continues to rise, the demand for lithium-ion batteries in stationary applications is expected to grow significantly, ensuring grid stability and energy reliability.

Restraint Factor for the Lithium-ion Battery Market

High Initial Investment Limiting Widespread A...

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