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Issue Report

Collection of full-length papers and in-depth analysis of economic and management issues.

Rise of the Rechargeable Car Battery

Rise of the Rechargeable Car Battery

LIM Tae-Yun

Sept. 15, 2009

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Originally released on July 23, 2009

Rise of the Rechargeable Car Battery

Rechargeable batteries are usually used as a power source for mobile IT devices such as cell phones and laptops. However, with the ever continuing development of technology, battery storage capacity has increased and is now widely used in cars and for electricity storage. Green cars such as hybrids and electric cars, in particular, have been hailed as the new demand source for rechargeable car batteries. Green cars need larger storage batteries than mobile IT devices therefore has the potential to be a big source of demand. For instance, GM's 'Volt' due out in 2010, will need a rechargeable car battery with electricity storage the size of 4,000 to 5,000 cell phone batteries.

With the continued tightening of environmental regulations, the green car market is expected to grow rapidly. The US plans to intensify current regulations by 42% and introduce the 35.5 miles a gallon rule by 2016. China, on the other hand, is in the process of preparing regulations that are even stricter than that of the US, with the aim of implementing them in 2015.

Consumer interest in green cars is also rapidly growing. In Japan, Honda's hybrid 'Insight' and Toyota's 'Prius' were the best-selling vehicles for last April and May. Until recently, other than Toyota's 'Prius' there were no hybrid models by other major car makers, however, now global automakers such as Honda, GM, BMW and Hyundai Motor are releasing or planning to release green cars, providing a wider range of choice to their customers.

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