BATTERIES R US

Jun 17, 2025

Hey, boomers — remember when you had to roll out an extension cord to plug in a heavy “portable” drill? Now we use lithium battery-powered tools. Batteries are great these days for tools and cars. According to “Just Have a Think” on YouTube, they’re getting better at an exponentially increasing rate. The price of lithium has plummeted nearly 90 percent since 2022, and newer chemistries are coming out all the time. The International Energy Agency says current global battery production capacity is around 3 terawatt-hours and could triple in five years if planned projects are completed. Leading the charge are companies like BYD, a Chinese electric vehicle and battery manufacturer, and CATL, the world’s largest maker of lithium-ion batteries and a key supplier to automakers like Tesla and BMW.