According to Frost & Sullivan, the worldwide lithium-ion battery market was roughly $7 billion in 2008, including $5.5 billion for consumer products, $1.5 billion for industrial products and $28 million for transportation.

The press release is quoted as saying:

Proven technological developments in Lithium Ion (Li-ion) batteries are giving shape to the goal of an affordable and capable electric vehicle. The performance attributes of Li-ion technology make it the ideal energy solution available currently. However, the technology is in the fledgling stage and costs are high. At current prices, the battery accounts for about a third of a plug-in hybrid electric vehicle (PHEV) cost.

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