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The popularity of electric cars has been rising gradually. It’s simple to imagine a future where all vehicles are electric as more manufacturers create and release new models.
However, the viability of electric vehicles depends largely on their range, which is determined by the size of their batteries. The batteries in electric cars must be small, able to recharge quickly and frequently, and have enough power to move you where you need to go.
Lithium-ion batteries are the norm in modern electric vehicles. Cars typically use the most energy-dense of the six main lithium chemistry types. Lithium Cobalt Oxide (LCO) or Lithium Nickle Cobalt Oxide is typically used for this (NCA).
The Russia Electric tractor battery market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
Rosatom, a Russian nuclear company, has made plans to erect a battery factory.The signed agreement also calls for the development of a lithium-ion cell manufacturing facility in Russia with a minimum 2 GWh capacity for use in energy storage systems and electric vehicles.
Renera, a company that specializes in the energy storage industry, will run the factory. In turn, Renera is a division of TVEL Fuel Company, which is a division of Rosatom. Officially, Renera also holds a share in Enertech.
This will boost production capacity, greatly improve our knowledge of and use for lithium-ion batteries, as well as make it easier to access markets outside. Additionally, local manufacturing content in Russia creates new jobs in addition to new innovations and goods.