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Electric Vehicle Battery Market Size Expected to Reach USD 252.02 Bn by 2032 [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Hong Kong, April 24, 2024 (GLOBE NEWSWIRE) -- The global electric vehicle battery market size surpassed USD 64.51 billion in 2023 and is predicted to hit around USD 231.18 billion by 2031, a study published by Towards Automotive a sister firm of Precedence Research. The battery serves as the heart of an electric vehicle (EV), acting as the primary source of power for propulsion and electrical systems. It functions by converting stored electrical energy into usable power for the vehicle's operation. In the realm of electronics, batteries facilitate electrical reactions by transferring charges between different components. In the context of EVs, batteries are engineered to meet the diverse energy demands of the vehicle's motor and charging infrastructure. Typically, an electric car's battery pack comprises multiple cells, ranging from 18 to 30 cells, which are interconnected in series to achieve the requisite drive voltage. Automakers are actively engaged in advancing EV technologi
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