Lithium-ion batteries are already in widespread use, thanks to smartphones and tablets. Now the technology is gaining ground in the automotive industry. Electric vehicles (EVs) are booming as automakers apply batteries to their vehicle lineups. By 2030, some estimates predict EVs will make up one-quarter to one-third of all new vehicle sales. Almost 67 million vehicles were sold worldwide in 2021, so the upside for lithium and battery technology is significant for the next decade.

The lithium-ion battery industry is a complex web of basic materials suppliers, manufacturers, and component designers.