The Development of Micro EV Battery Industry

Micro electric vehicles (EV) are four-wheeled electric miniature vehicles that can reach speeds of up to 20 mph but not more than 25 mph (in China, not more than 70 mph) on level roads and have a gross vehicle weight rating (GVWR) of less than 3,000 pounds. Neighborhood electric vehicles (NEV), golf carts and utility off-road vehicles all fall into this category.

EV Classification:

Depending on the battery used can be divided into lead-acid battery EVs and lithium-ion battery EVs. The percentage of public use is about 14.6%, and the percentage of personal use is about 56.5%.

1) Lead-acid Battery EVs Market:

Reliability and efficiency are the key factors driving the growth of the world power lead-acid battery market. These batteries are robust in construction, have the ability to withstand extreme temperatures, and can perform well even when exposed to atmospheric conditions. In addition to these features, the affordable price is another reason for the widespread use of this chemistry in motivation applications, despite the popularity of other chemistries in this market.

The market is well established and technologically mature to expand its end-user applications through utilization in the fast growing neighborhood electric vehicles (NEV). Most developed countries and a few developing countries have adopted policies and regulations to promote the use of electric vehicles (EV). Analysts for this research service noted, "The demand for EV is largely driving the demand for lithium-ion batteries in developed countries such as the U.S. and the U.K." "Increased margins for suppliers due to high unit prices and reduced lead costs have led to revenue growth in this market." Small city electric vehicles (SCEV) and golf carts powered by lead-acid batteries are bound to be widely adopted and will boost the market outlook. Surge in industrial activities has raised the demand for material handling equipment, thereby boosting the battery market. Valve regulated lead acid (VRLA) batteries are well suited for remote applications owing to their very low maintenance cost. Demand from the mining industry provides positive impetus to the market.

2) Lithium-ion battery EVs：

The high growth of the automotive industry and the concept of electric vehicles is also one of the major driving factors for the lithium-ion battery market.

In the electric vehicle battery market, lithium-ion batteries compete with lead-acid batteries. Cost is the only favorable factor for lead-acid chemistry, which faces the threat of being partially replaced by lithium-ion chemistry in urban electric vehicles (CEV), NEV and high-performance electric vehicles (HPEV).