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this post was submitted on 07 Jul 2024
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It's not just the amount of time. The portable electronics market and the electric car market both settled on lithium batteries, which created a huge demand for that particular technology. Over the past 2 decades there has been a massive incentive to develop smaller, denser lithium batteries.
There may be interest in developing other battery technologies, but nothing like the amount of money and effort being spent on lithium batteries.
And before that there were several decades of massive incentive to develop smaller more powerful ICE engines.
Lithium probably has some room to grow, but it also has a lot of problems like volatility and materials sourcing. EV manufacturers have been searching for ways to make better/cheaper/denser batteries, not better/cheaper/denser lithium batteries. They've been actively searching for alternatives.
Sure, it's the lithium battery manufacturers that are invested in making better lithium batteries. Everyone has been buying their products for decades and they want that to keep happening, so they pour resources into research and development. And they have a lot of resources, because everyone has been buying their products.
Once a market settles on a particular technology it becomes self-feeding and tends to accelerate. It's difficult for a competing technology to break in primarily because of momentum - it's hard to catch up.
A device manufacturer might be interested in using a different battery technology, but if they have a whole design and production process already built around lithium batteries then it's not just the battery that they have to change. It's their logistics chain, on-device electronics, design theory and possible regulatory concerns. Changing an established system is expensive, so that has to be justified somehow.
I'm not saying that it can't happen - I'm sure that it will eventually. What I'm saying is that in order for a different battery technology to really change the market and push lithium out, it will have to be significantly better (not just marginally better).