• Financial markets are backing electric
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Financial markets are backing electric

They say 'follow the money' - and if the latest moves in the financial world are anything to go by, it might be time to start really believing in electric. Here at Big Motoring World, we were struck by the news that investment by venture capitalists into battery technology has now hit $1bn already this year – that’s far more than ever before. This massive cash injection is being driven by a need to create industry leading technology for electric cars - batteries are a fundamental part of converting and storing renewable energy so that it can be used to power the next generation of vehicles.

Spectacular numbers

Here are just a few of the more remarkable figures behind that new investment - and again, bear in mind that we are still only in March. We've already seen double the amount of money that was invested in 2017 put into energy storage companies. Forecasts suggest that investments in battery companies around the world will also almost double this year - the sector has got off to a flying start, with 15 investments already in 2018. And things are also looking good for those companies who specifically make batteries for electric cars - again, investment has gone up from a measly $33m in 2013 to over $430m in 2017. These car-specific battery manufacturers make up a considerable chunk of the overall energy storage sector, and much of their investment is in finding cobalt-free alternatives to the current technology, which can be expensive and is based on raw materials that are often hard to source.

The safe bet

It's most likely however that the future lies in lithium-ion batteries - they're already well established and many of the biggest players in the industry have committed to the technology for the long run. Here at Big Motoring World we’d say that, despite the substantial investment elsewhere, lithium still remains the safest bet for the industry.