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Lithium-ion battery designer and producer rebranded after takeover

IHS Global forecast of the motive battery mktThe global market for motive batteries used to power electric vehicles (EV) and other conveyances is set to rise to $47 billion in 2017, up more than 50% from $31 billion in 2013, according a new report “Motive Batteries – World -2013” from IMS Research, now part of IHS.

“The rapid growth of the motive battery market is projected to be driven by an explosion in demand for EVs and the continued adoption of start-stop vehicles, that is, gas-powered cars that cut off their engines instead of idling to save fuel,” said Thomas McAlpine, market research analyst for power supply and energy storage at IHS. “These EVs will provide opportunities for more expensive battery technologies such as valve-regulated lead–acid (VRLA) and lithium-ion batteries, driving market revenue. Meanwhile, as the global economy continues to recover, companies are beginning to invest more in greener processes, fueling demand for battery-powered vehicles in industrial applications such as forklift trucks and mining machinery.”
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