Electric car batteries are typically made up of thousands of rechargeable lithium-ion cells connected together to form the battery pack. Lithium-ion cells are the most popular because of their cost efficiency, offering the most optimal trade-off between energy storage capacity and price. The main components of these rechargeable batteries are carbon, a metal oxide, and lithium. Within these batteries are five key technical elements: the anode, cathode, separator, electrolyte, and lithium ions. Base metals such as aluminum, copper, and iron are important ingredients, but the most expensive materials are precious metals such as cobalt, nickel, and manganese, along with elements such as graphite and lithium. Most of todays all-electric vehicles and PHEVs use lithium-ion batteries, though the exact chemistry often varies from that of consumer electronics batteries. The Department of Energy is also supporting the Lithium-Ion Battery Recycling Prize to develop and demonstrate profitable solutions for collecting, sorting, storing, and transporting spent and discarded lithium-ion batteries for eventual recycling and materials recovery.