Lithium-ion batteries are currently used in most electric vehicles because of their high energy per unit mass relative to other electrical energy storage systems. They also have a high power-to-weight ratio, high energy efficiency, good high-temperature performance, and low self-discharge. Most components of lithium-ion batteries can be recycled.
Most of today's EVs use lithium-ion batteries, though the exact chemistry often varies from that of consumer electronics batteries. Research and development are ongoing to reduce their relatively high cost, extend their useful life, and address safety concerns in regard to overheating.
Lithium-ion can refer to a wide array of chemistries, however, it ultimately consists of a battery based on charge and discharge reactions from a lithiated metal oxide cathode and a graphite anode. Two of the more commonly used lithium-ion chemistries are Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP). Lithium-ion batteries are used in a variety of ways, from electric vehicles to residential batteries to grid-scale applications.