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Global Lithium-Ion Battery Market Is Projected To Exceed $129 Billion By 2027

Global Lithium-Ion Battery Market Is Projected To Exceed $129 Billion By 2027 - FinancialNewsMedia.com News Commentary PALM BEACH, Fla., March 17, 2021 /PRNewswire/ Today, with the increasing concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are gaining preference for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees for EVs, and free charging, to encourage the adoption of EVs. Thus, globally the requirement of EV battery is gaining fast pace. Lithium has been essential for this growth. An article by Trading Economics recently said that the price for Lithium Carbonate, which is a critical ingredient in lithium-ion batteries surged after government incentives boosted demand for the metal while supplies

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