The Electric Car Battery Race is on

From the United States to Asia billions of dollars are pumped into research to develop better electric vehicle batteries.The Obama administration alone has invested $2.4 billion in electric vehicle technology.?They hope to have at least a million electric cars on American roads by 2015.
Many Japanese companies have developed 10, 20 and even 30-year road maps for the development process, while the Chinese government is also pouring large amounts into battery research.

In Japan there is increasing cooperation between car manufacturers and specialist battery developers.?Mitsubishi, for example, is reported to have plans to buy their batteries from Toshiba.Sony is also involved in discussions with car manufacturers about the production of lithium-ion batteries.

Right now it seems as if the lithium-ion battery will be with us for some time to come.The Chinese company has developed a system whereby they use lithium-iron phosphate in powder form, enabling them to make a smaller, more powerful battery.

Eventually this technology will no doubt find its way into production versions of electric cars, which will go a long way to address issues many car loan buyers currently have with these cars.