Manufacturers are attempting to tackle this cost challenge by increasing production volumes, improving efficiencies in production processes, and finding other suitable applications for these batteries to improve economies of scale.Manufacturers are striving to establish standards as each battery company is hoping to identify the ideal battery chemistry and configuration. The lack of standards complicates the logistics and practicality of both battery swapping and second-life applications. Consumers also expect Li-ion batteries to provide superior vehicle performance, reliability, durability and range. "EV and EV battery manufacturers will do well to educate their target audience about the total cost of ownership, performance and reliability advantages of EVs over their ICE-driven counter parts," noted Dean. "Meanwhile, they will continue to sign partnerships and joint ventures to facilitate sharing of resources, cost and risk mitigation, and the fostering of a cohesive technological environment guided by a single vision." Connect with Frost & Sullivan on social media, including Twitter, Facebook, SlideShare, and LinkedIn, for the latest news and updates. Global Hybrid Electric and Electric Vehicle Lithium-ion Battery Market is part of the Energy and Environment Growth Partnership Service program. Frost & Sullivan's related research services include: Global Inverter Market for Renewable Energy Systems, Global Nickel Battery Market, Analysis of the Global Thin-film Battery Market, and Annual Global Power & Energy Outlook 2012. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
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