Even With Soaring Oil Prices, Electric Vehicles Will Trickle In
...sales of lithium-ion batteries will slowly start to ramp up in the coming years, thanks to the combined sales of plug-in hybrid, hybrid and electric vehicles. But that trend will also depend on oil prices. At $70 per barrel in 2020, sales of li-ion batteries for vehicles will hit $510 million, but with the price of oil at $200 a barrel, the market for li-ion vehicle batteries could skyrocket to $9 billion.