From 2008 to 2020, the volumetric energy density of lithium-ion batteries increased eightfold

Volumetric energy density refers to the amount of energy that can be contained in a given volume.

Increasing the volumetric energy density of batteries allows electric vehicles to travel farther without increasing the size of the battery pack. Conversely, it allows electric vehicles to travel the same distance with a smaller battery pack, saving space, weight and manufacturing costs.

Given the huge benefits of increasing the energy density of electric vehicle batteries, the U.S. Department of Energy and private industry have made significant investments in battery development and have achieved impressive results.

In 2008, the volumetric energy density of lithium-ion batteries was 55 watt-hours per liter; by 2020, this figure increased to 450 watt-hours per liter.

(Original source: Clean Technology Global Lithium Battery Network, New Energy Network Comprehensive)