How Adoption of Electric Vehicles is Still Fueling Large Gains for EV Battery and Lithium Markets

PALM BEACH, Fla., Feb. 7, 2023 /PRNewswire/ -- Governments all over the world are promoting the adoption of vehicles utilizing alternative fuels as a result of the rising concerns regarding the environmental impact of conventional automobiles. EVS are zero emission cars that are becoming more and more popular for eco-friendly public transportation worldwide. To promote the use of EVs, several national governments provide financial incentives such tax exemptions and refunds, subsidies, decreased parking/toll rates for EVs, and free charging. As a result, the demand for EV batteries is increasing quickly across the board. Governments all across the world are also promoting the use of vehicles that run on alternative fuels as environmental worries about conventional automobiles continue to rise. EVs are zero-emission vehicles that are becoming more and more popular for eco-friendly public transportation worldwide. To promote the use of EVS, several national governments provide financial incentives such tax exemptions and refunds, subsidies, decreased parking/toll rates for EVs, and free charging.  A report from MarketsAndMarkets projected that the global EV battery market in terms of revenue was estimated to be worth $56.4 billion in 2022 and is poised to reach $134.6 billion by 2027, growing at a CAGR of 19.9% from 2022 to 2027. It said that the market for EV batteries is being driven by factors such as rising demand for electric vehicles, advancements in battery technology, favorable government policies and regulations, and the introduction of new plug-in EV models.   Active companies in the markets this week include Infinity Stone Ventures Corp. (OTCQB:GEMSF) (CSE:GEMS), Tesla, Inc. (NASDAQ:TSLA), Lucid Group, Inc. (NASDAQ: LCID), Rivian Automotive, Inc. (NASDAQ: RIVN), NIO Inc. (NYSE: NIO).