Lithium ion batteries have come a long way since these were developed and released commercially for the first time in 1991 by Asahi Kasei and Sony. The popularity of lithium ion battery packs in all its varied forms is rising day by day as both individual and institutional users find this type of storage solution very beneficial. Approximately 660 million lithium ion cylindrical cells were produced in 2012 on a global basis and total sales of large cylindrical, prismatic, and flat bodied LIBs exceeded industry expectations. LIBs can be found in torches, flashlights, laptops, mobile phones, electronic saws, cordless drills, electric vehicles, UAVs, and so on. Dongguan Large Electronics Co., Ltd is one of the foremost producers of LIBs and is also a well known medical battery supplier.