Presently, the electric car's lithium-ion battery accounts for 30 to 45 percent of the entire MSRP of an electric vehicle. For the Chevy Volt this would represent approximately $12,000 to $18,000 of the cars total cost.

Compare that to an average gas engine and battery installed in a new car when assembled at the planet (engine and battery roughly $1,200) or 6 percent, its apparent for electric vehicles to become a viable mode of transportation something needs to change and that change must be a decrease in the price of the EV's lithium-ion battery.

Thanks to the hard work and dedication of some EV start-ups, scientists and auto makers, we should see huge improvements in lithium-ion batteries, the near future. But, without new cutting edge lithium-ion battery technology the electric car will be doomed.

There are additional hurdles that should be addressed when it comes to EV batteries.

Safety will always be at the top of most people's list. When it comes to the safe function of the electric car lithium-ion battery, the battery and its technology are well regulated by governments and overseen to ensure our safety.

Federal agencies researching safety hazards caused by EV batteries, say one of the leading perils comes when a owners overcharges an EV battery. During charging of the electric car lithium-ion battery, is when it's most like to encounter fire difficulty not when an electric car is driving on the road. Our U.S. National Highway Traffic Safety Administration, are investigating.

But there are other issues with lithium-ion batteries that must be addressed and don't come under the normal regulations, yet.

One is the life cycle of the lithium-ion battery. Like all rechargeable batteries, those that are fitted in EVs will eventually start to degrade over time so that the amount of power that they hold lessens.

Meaning that you won't be able to drive as far. In short this could be a real worry if your car were to die on the highway in rush hour, or in the middle of the Mojave Desert, leaving you stranded and no way to get moving.

Because lithium-ion batteries are utilized with demanding environmental conditions, like huge temperature swings, terrain and driving conditions. A moderate method identify a battery life cycle is between 300 and 500 discharge and re-charge cycles. A Palto Alto company has verified battery life functioning equal to some 180,000 miles with minimal battery deterioration. So, we believe this issue well be fairly easy to over-come.

Other battery technology currently in development that will one day conquer one of the principal negative aspect of the electric car, that being the time takes to recharge their batteries.

Currently it takes from 6 to 12 hours, and in some cases much longer in order to fully charge. This means taking the car off the road and not using it for that period of time. New developments are producing batteries that can be charged to 90% of the maximum capacity in just two minutes. With a large enough number of charging stations available, it would mean that even a low capacity car or battery could take a longer journey by recharging often. So the risk of failure is reduced.

The University of Illinois is researching a new type of lithium-ion battery. This pioneering lithium-ion uses something called nanostructure-based cathodes, which lessen charging time to a matter of minutes, just like filling up your gas tank!. Nanotechnology, allows for speedy recharging with no harm to charge capacity or discharge rate. Best yet this fast charge does not unnecessarily influence battery life.

One of the other major concerns when it comes to EV batteries is the disposal of them. As with all batteries they are potentially polluting and rather than being disposed of they would be better put to another use. An electric car battery that can no longer hold a charge to power a car may still have a lot of life left in it for other uses.

The market for lithium-ion battery recycling is projected to be significant and experts say it will be a $2 billion business by 2022, and the lithium-ion battery packs will number over half a million available for recycling.

Potential recycling uses for EV batteries that are currently being considered include adding EV batteries to the 'smart-grid' that is also under consideration. They would be used as massive storage packs, bundled together in small groups in order to power a small group of houses for a short time. This might help to overcome the brown-out situations that are currently becoming increasingly problematic.

ITOCHU Corporation and Duke Energy are experimenting new uses for aged electric vehicle batteries. Electric car lithium-ion batteries falling below 80 percent of their original ability when fully charged will be candidates for recycling. Electric car lithium-ion batteries could then warehouse energy and distribute power elsewhere.

GM is working on related plans, particularly attempting to unearth methods to use spent Chevy Volt batteries within the smart grid.

Alternatively it might be possible for the car owner to never really buy the EV lithium-ion battery at all. Instead it will be only on loan, and the wear and tear on the battery would be the only charge. Once the battery needed replacing the company could take ownership of it again, and repurpose it.

Advancing technology and innovative thinking are coming together to ensure that the drawbacks to EV batteries as viewed by the public are being addressed.

However, specifics required to determine exact ownership cost of an electric vehicle and its lithium-ion batteries are still a little gray.