Part 4/10:
The second driver in this energy revolution is the evolution of battery technologies, particularly lithium-ion batteries. These batteries have transformed not only consumer electronics but are also becoming integral to electric vehicles (EVs). With improvements in energy density and substantial reductions in cost, EVs are now production-ready and affordable. The distinction between internal combustion engines and EVs is narrowing, particularly in China, where the cost of owning and operating an EV is already lower than that of traditional vehicles.