Global Electric Vehicle (EV) Battery Market size is anticipated to reach USD 27.4 billion in 2021 growing at a CAGR of 25.4% during the forecasting period, 2021-2028.
The battery used in the electrical vehicle is the lithium-ion battery. These batteries provide high energy density and increased power per mass. There are multiple batteries developed with these aims. These batteries operate at a voltage of 200-800 volt. The cells in the battery are connected in series. The cathode is made up of metal oxide and anode of graphite.