Electric vehicle batteries: Advancements, challenges, and the path to sustainability

After the energy industry, the transportation sector is the second-biggest emitter of greenhouse gases. Governments, industry associations, and researchers throughout the world see it as their prime objective to reduce the environmental consequences of the sector and address this problem. The past five years have witnessed a huge growth in the market for electric vehicles, which is largely driven by customer inclination towards zero-emission vehicles, especially electric scooters. Despite the COVID-19 pandemic impacting worldwide production of vehicles, overall sales volumes of EVs remained positive. As per Market and Markets, the market for all electric vehicles is expected to increase from around $388.1 billion in 2023 to $951.9 billion by 2030 at a CAGR of 13.7%.