“The unfortunate reality is that lithium-ion batteries were not ready for prime time four years ago and they’re not ready for prime time today.”
-from “Are EV Dreams Going Up In Smoke?” by John Petersen, 28 Mar 2013, Seeking Alpha
Despite claims that lithium battery technology is improving, lithium batteries continue to catch on fire. See the article above for some recent Mitsubishi examples.
The continued widespread use of a product that poses a serious and thus far unresolvable safety hazard is apparently based on the unfortunate business practice of balancing the costs of jury awards against the competitive advantage of using a dangerous product (lithium batteries have smaller size/weight for energy stored, compared to much safer types). Is there a CEO out there who is willing to forfeit some profits by discontinuing the use of lithium batteries? If so, please speak up.