KEY POINTSGoldman Sachs finds it is too early to call an end to a battery raw materials price plunge.On a 12-month basis, analysts at Goldman said Tuesday that the bank is targeting a 12%, 15% and 25% downside in cobalt, nickel and lithium carbonate, respectively.Analysts have previously warned that the outlook for EV battery metals remains relatively subdued, with lithium, cobalt and nickel markets generally oversupplied.

Kees Koolen, chairman of Lithium Werks, predicts there will eventually be five to ten battery giants producing technology and renewable energy.

The battery industry is rapidly changing, in part because of growth in mobile devices and electric cars. The lithium-ion battery industry alone is expected to grow to $93 billion by 2025. But the energy sector could be disrupted by battery innovation as well. Here’s everything you need to know about the big business of batteries and how battery innovation is changing our world.