From powering our mobile devices, electric vehicles and homes to providing grid-scale energy storage, lithium-ion batteries have revolutionised the way we live in the world. As lithium-ion battery costs fall – down 97 per cent since 1991 – and the world pursues a lower emissions energy future, batteries are an enabling technology that will support an even greater penetration of these technologies. The demand for lithium-ion batteries is growing, and the global market is projected to be worth $242 billion by 2026.
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