Ascend Elements, a company based in the US that specializes in battery recycling and engineering materials, has recently announced a collaboration agreement with Honda Motor Co. Ltd. The partnership aims to ensure a stable and sustainable supply of recycled lithium-ion battery materials for Honda's electric vehicles in North America.
Ola Electric has revealed its intention to establish a manufacturing plant for cells that will power its lithium-ion (Li-ion) batteries. This battery manufacturing facility will be located in a new integrated plant near Bengaluru, India, that will also produce the company's e-scooters.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 1313
Published Date: Sep 04, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for smartphones, growing government initiatives, and enlargement of renewable electricity sources are driving market growth.
The market size of lithium-ion battery is anticipated to attain a CAGR of 19% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Seimens, Lyten, Inc, Yoshino Technology, Ascend Elements, Ola Electric, Hyundai Motor Group, Panasonic Holdings Corporation, Itochu Corporation, Suzuki Motor Corporation, TOSHIBA CORPORATION and others.
The Lithium cobalt oxide segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.