A lithium-ion battery, or Li-ion battery, is a type of rechargeable battery that uses the reversible intercalation of Li ions into electronically conducting solids to store energy. Li-ion batteries are characterized by higher specific energy, energy density, and energy efficiency and a longer cycle life and calendar life than other types of rechargeable batteries. Also noteworthy is a dramatic improvement in lithium-ion battery properties after their market introduction in 1991; over the following 30 years, their volumetric energy density increased threefold while their cost dropped tenfold. In late 2024 global demand passed 1 terawatt-hour per year, while production capacity was more than twice that.
The invention and commercialization of Li-ion batteries has had a large impact on technology, as recognized by the 2019 Nobel Prize in Chemistry.Li-ion batteries have enabled portable consumer electronics, laptop computers, cellular phones, and electric cars. Li-ion batteries also see significant use for grid-scale energy storage as well as military and aerospace applications.