Lithium-ion batteries are currently the most established and competitive technology for energy storage in the market, particularly in applications such as electric vehicles and portable electronics. Over the past decade, significant advancements have been made in increasing their energy density, safety, and performance. For example, in the automotive industry, the average energy density of lithium-ion batteries has increased from around 150 Wh/kg to 250 Wh/kg in the span of a decade, mainly driven by improvements in battery materials and design.  

Despite the rapid and consistent improvements seen in the R&D of lithium-ion batteries, the potential for further optimization is starting to diminish, and it is estimated that the limits of this technology may be reached within the coming decade. Next-generation battery solutions will be needed in the future to keep up with the growing demand for increasingly efficient and safe energy storage options.