APO RESEARCH · REPORT
Lithium-ion Batteries for Electric Bikes
With its inherent advantages of high energy and fast charging, lithium-ion batteries are ideal for electric scooters, bicycles and cars. When lithium-ion batteries discharge, they generate heat as a byproduct. A Li-Ion battery is usually much lighter than a similar sized battery, especially when compared to the much cheaper lead-acid type.
Product & engineering
Understand the product.
With its inherent advantages of high energy and fast charging, lithium-ion batteries are ideal for electric scooters, bicycles and cars. When lithium-ion batteries discharge, they generate heat as a byproduct. A Li-Ion battery is usually much lighter than a similar sized battery, especially when compared to the much cheaper lead-acid type.
Selected research
Industry Growth & Trends
Global Lithium-ion Batteries for Electric Bikes Industry Growth and Trends Forecast to 2032
Market perspective
With its inherent advantages of high energy and fast charging, lithium-ion batteries are ideal for electric scooters, bicycles and cars. When lithium-ion batteries discharge, they generate heat as a byproduct. A Li-Ion battery is usually much lighter than a similar sized battery, especially when compared to the much cheaper lead-acid type.
Europe is the largest sales market of Lithium-ion Batteries for Electric Bikes in the world in the past few years and it will keep the same position in the next years. Europe sales volume took up about 73% the global market.The key manufacturers are BMZ, Samsung SDI, BOSCH, Johnson Matthey Battery Systems, LG Chem, Panasonic, AllCell Technology, Shimano, Brose Fahrzeugteile, Yamaha, Phylion, Tianneng, ChilWee, Tianjin Lishen Battery etc. Top 3 companies occupied about 24% market share.主要的生产厂商有BMZ, Samsung SDI, BOSCH, Johnson Matthey Battery Systems, LG Chem, Panasonic, AllCell Technology, Shimano, Brose Fahrzeugteile, Yamaha, Phylion, Tianneng, ChilWee, Tianjin Lishen Battery等。排名前三的厂商,约占24%的市场份额。
Report Scope
Read the full market overview
This report provides a structured, data-driven view of the global Lithium-ion Batteries for Electric Bikes market, combining harmonized quantitative metrics with targeted qualitative insight to support business and growth strategy, market positioning, and capital allocation.
The Lithium-ion Batteries for Electric Bikes market size, estimates, and forecasts are presented in terms of sales volume (K Units) and revenue (US$ million), with 2025 as the base year and historical and forecast data for 2021-2032. The report segments the global Lithium-ion Batteries for Electric Bikes market by Type, Application, region/country, and company, provides regional market sizes at the segment level, profiles the competitive landscape and key players and their market ranks, and reviews technology trends and new product developments relevant to Lithium-ion Batteries for Electric Bikes.
Key Companies & Market Share Insights
This section analyzes the strategies and performance of leading manufacturers in the global Lithium-ion Batteries for Electric Bikes market, including portfolio focus, innovation and product development, mergers and acquisitions, collaborations, and geographic expansion used to sustain or enhance competitive positions. It also summarizes recent corporate developments and key financial indicators and provides global revenue, price, and sales volume data by manufacturer for 2020-2025, enabling benchmarking of scale, pricing, and market share and supporting assessment of market concentration through indicators such as CR5 and CR10.
Lithium-ion Batteries for Electric Bikes Market by Company
BMZ
Samsung SDI
BOSCH
Johnson Matthey Battery Systems
LG Chem
Panasonic
AllCell Technology
Shimano
Brose Fahrzeugteile
Yamaha
Phylion
Tianneng
ChilWee
Tianjin Lishen Battery
Lithium-ion Batteries for Electric Bikes Segment by Type
48V
36V
Others
Lithium-ion Batteries for Electric Bikes Segment by Application
Household
Public Transport
Others
Lithium-ion Batteries for Electric Bikes Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Lithium-ion Batteries for Electric Bikes market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Lithium-ion Batteries for Electric Bikes and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market.
5. This report helps stakeholders to gain insights into which regions to target globally.
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Lithium-ion Batteries for Electric Bikes.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Introduces the study scope of this report, executive summary of market segments by type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter 2: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Lithium-ion Batteries for Electric Bikes manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter 4: Sales, revenue of Lithium-ion Batteries for Electric Bikes in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter 5: Introduces market segments by application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 7, 8, 9, 10 and 11: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter 12: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics.
Chapter 13: Concluding Insights of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- 48V
- 36V
- Others
Applications
- Household
- Public Transport
- Others
Companies covered
- BMZ
- Samsung SDI
- BOSCH
- Johnson Matthey Battery Systems
- LG Chem
- Panasonic
- AllCell Technology
- Shimano
- Brose Fahrzeugteile
- Yamaha
- Phylion
- Tianneng
- ChilWee
- Tianjin Lishen Battery
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Global Market Growth Prospects
- 1.2.1 Global Lithium-ion Batteries for Electric Bikes Market Size Estimates and Forecasts (2021-2032)
- 1.2.2 Global Lithium-ion Batteries for Electric Bikes Sales Estimates and Forecasts (2021-2032)
- 1.3 Lithium-ion Batteries for Electric Bikes Market by Type
- 1.3.1 48V
- 1.3.2 36V
- 1.3.3 Others
- 1.4 Global Lithium-ion Batteries for Electric Bikes Market Size by Type
- 1.4.1 Global Lithium-ion Batteries for Electric Bikes Market Size Overview by Type (2021-2032)
- 1.4.2 Global Lithium-ion Batteries for Electric Bikes Historic Market Size Review by Type (2021-2026)
- 1.4.3 Global Lithium-ion Batteries for Electric Bikes Forecasted Market Size by Type (2027-2032)
- 1.5 Key Regions Market Size by Type
- 1.5.1 North America Lithium-ion Batteries for Electric Bikes Sales Breakdown by Type (2021-2026)
- 1.5.2 Europe Lithium-ion Batteries for Electric Bikes Sales Breakdown by Type (2021-2026)
- 1.5.3 Asia-Pacific Lithium-ion Batteries for Electric Bikes Sales Breakdown by Type (2021-2026)
- 1.5.4 South America Lithium-ion Batteries for Electric Bikes Sales Breakdown by Type (2021-2026)
- 1.5.5 Middle East and Africa Lithium-ion Batteries for Electric Bikes Sales Breakdown by Type (2021-2026)
2 Global Market Dynamics
- 2.1 Lithium-ion Batteries for Electric Bikes Industry Trends
- 2.2 Lithium-ion Batteries for Electric Bikes Industry Drivers
- 2.3 Lithium-ion Batteries for Electric Bikes Industry Opportunities and Challenges
- 2.4 Lithium-ion Batteries for Electric Bikes Industry Restraints
3 Market Competitive Landscape by Company
- 3.1 Global Top Players by Lithium-ion Batteries for Electric Bikes Revenue (2021-2026)
- 3.2 Global Top Players by Lithium-ion Batteries for Electric Bikes Sales (2021-2026)
- 3.3 Global Top Players by Lithium-ion Batteries for Electric Bikes Price (2021-2026)
- 3.4 Global Lithium-ion Batteries for Electric Bikes Industry Company Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Lithium-ion Batteries for Electric Bikes Major Company Production Sites & Headquarters
- 3.6 Global Lithium-ion Batteries for Electric Bikes Company, Product Type & Application
- 3.7 Global Lithium-ion Batteries for Electric Bikes Company Establishment Date
- 3.8 Market Competitive Analysis
- 3.8.1 Global Lithium-ion Batteries for Electric Bikes Market CR5 and HHI
- 3.8.2 Global Top 5 and 10 Lithium-ion Batteries for Electric Bikes Players Market Share by Revenue in 2025
- 3.8.3 2025 Lithium-ion Batteries for Electric Bikes Tier 1, Tier 2, and Tier 3
4 Lithium-ion Batteries for Electric Bikes Regional Status and Outlook
- 4.1 Global Lithium-ion Batteries for Electric Bikes Market Size and CAGR by Region: 2021 VS 2025 VS 2032
- 4.2 Global Lithium-ion Batteries for Electric Bikes Historic Market Size by Region
- 4.2.1 Global Lithium-ion Batteries for Electric Bikes Sales in Volume by Region (2021-2026)
- 4.2.2 Global Lithium-ion Batteries for Electric Bikes Sales in Value by Region (2021-2026)
- 4.2.3 Global Lithium-ion Batteries for Electric Bikes Sales (Volume & Value), Price and Gross Margin (2021-2026)
- 4.3 Global Lithium-ion Batteries for Electric Bikes Forecasted Market Size by Region
- 4.3.1 Global Lithium-ion Batteries for Electric Bikes Sales in Volume by Region (2027-2032)
- 4.3.2 Global Lithium-ion Batteries for Electric Bikes Sales in Value by Region (2027-2032)
- 4.3.3 Global Lithium-ion Batteries for Electric Bikes Sales (Volume & Value), Price and Gross Margin (2027-2032)
5 Lithium-ion Batteries for Electric Bikes by Application
- 5.1 Lithium-ion Batteries for Electric Bikes Market by Application
- 5.1.1 Household
- 5.1.2 Public Transport
- 5.1.3 Others
- 5.2 Global Lithium-ion Batteries for Electric Bikes Market Size by Application
- 5.2.1 Global Lithium-ion Batteries for Electric Bikes Market Size Overview by Application (2021-2032)
- 5.2.2 Global Lithium-ion Batteries for Electric Bikes Historic Market Size Review by Application (2021-2026)
- 5.2.3 Global Lithium-ion Batteries for Electric Bikes Forecasted Market Size by Application (2027-2032)
- 5.3 Key Regions Market Size by Application
- 5.3.1 North America Lithium-ion Batteries for Electric Bikes Sales Breakdown by Application (2021-2026)
- 5.3.2 Europe Lithium-ion Batteries for Electric Bikes Sales Breakdown by Application (2021-2026)
- 5.3.3 Asia-Pacific Lithium-ion Batteries for Electric Bikes Sales Breakdown by Application (2021-2026)
- 5.3.4 South America Lithium-ion Batteries for Electric Bikes Sales Breakdown by Application (2021-2026)
- 5.3.5 Middle East and Africa Lithium-ion Batteries for Electric Bikes Sales Breakdown by Application (2021-2026)
6 Company Profiles
- 6.1 BMZ
- 6.1.1 BMZ Company Information
- 6.1.2 BMZ Business Overview
- 6.1.3 BMZ Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.1.4 BMZ Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.1.5 BMZ Recent Developments
- 6.2 Samsung SDI
- 6.2.1 Samsung SDI Company Information
- 6.2.2 Samsung SDI Business Overview
- 6.2.3 Samsung SDI Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.2.4 Samsung SDI Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.2.5 Samsung SDI Recent Developments
- 6.3 BOSCH
- 6.3.1 BOSCH Company Information
- 6.3.2 BOSCH Business Overview
- 6.3.3 BOSCH Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.3.4 BOSCH Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.3.5 BOSCH Recent Developments
- 6.4 Johnson Matthey Battery Systems
- 6.4.1 Johnson Matthey Battery Systems Company Information
- 6.4.2 Johnson Matthey Battery Systems Business Overview
- 6.4.3 Johnson Matthey Battery Systems Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.4.4 Johnson Matthey Battery Systems Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.4.5 Johnson Matthey Battery Systems Recent Developments
- 6.5 LG Chem
- 6.5.1 LG Chem Company Information
- 6.5.2 LG Chem Business Overview
- 6.5.3 LG Chem Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.5.4 LG Chem Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.5.5 LG Chem Recent Developments
- 6.6 Panasonic
- 6.6.1 Panasonic Company Information
- 6.6.2 Panasonic Business Overview
- 6.6.3 Panasonic Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.6.4 Panasonic Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.6.5 Panasonic Recent Developments
- 6.7 AllCell Technology
- 6.7.1 AllCell Technology Company Information
- 6.7.2 AllCell Technology Business Overview
- 6.7.3 AllCell Technology Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.7.4 AllCell Technology Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.7.5 AllCell Technology Recent Developments
- 6.8 Shimano
- 6.8.1 Shimano Company Information
- 6.8.2 Shimano Business Overview
- 6.8.3 Shimano Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.8.4 Shimano Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.8.5 Shimano Recent Developments
- 6.9 Brose Fahrzeugteile
- 6.9.1 Brose Fahrzeugteile Company Information
- 6.9.2 Brose Fahrzeugteile Business Overview
- 6.9.3 Brose Fahrzeugteile Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.9.4 Brose Fahrzeugteile Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.9.5 Brose Fahrzeugteile Recent Developments
- 6.10 Yamaha
- 6.10.1 Yamaha Company Information
- 6.10.2 Yamaha Business Overview
- 6.10.3 Yamaha Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.10.4 Yamaha Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.10.5 Yamaha Recent Developments
- 6.11 Phylion
- 6.11.1 Phylion Company Information
- 6.11.2 Phylion Business Overview
- 6.11.3 Phylion Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.11.4 Phylion Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.11.5 Phylion Recent Developments
- 6.12 Tianneng
- 6.12.1 Tianneng Company Information
- 6.12.2 Tianneng Business Overview
- 6.12.3 Tianneng Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.12.4 Tianneng Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.12.5 Tianneng Recent Developments
- 6.13 ChilWee
- 6.13.1 ChilWee Company Information
- 6.13.2 ChilWee Business Overview
- 6.13.3 ChilWee Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.13.4 ChilWee Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.13.5 ChilWee Recent Developments
- 6.14 Tianjin Lishen Battery
- 6.14.1 Tianjin Lishen Battery Company Information
- 6.14.2 Tianjin Lishen Battery Business Overview
- 6.14.3 Tianjin Lishen Battery Lithium-ion Batteries for Electric Bikes Sales, Revenue and Gross Margin (2021-2026)
- 6.14.4 Tianjin Lishen Battery Lithium-ion Batteries for Electric Bikes Product Portfolio
- 6.14.5 Tianjin Lishen Battery Recent Developments
7 North America by Country
- 7.1 North America Lithium-ion Batteries for Electric Bikes Sales by Country
- 7.1.1 North America Lithium-ion Batteries for Electric Bikes Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 7.1.2 North America Lithium-ion Batteries for Electric Bikes Sales by Country (2021-2026)
- 7.1.3 North America Lithium-ion Batteries for Electric Bikes Sales Forecast by Country (2027-2032)
- 7.2 North America Lithium-ion Batteries for Electric Bikes Market Size by Country
- 7.2.1 North America Lithium-ion Batteries for Electric Bikes Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 7.2.2 North America Lithium-ion Batteries for Electric Bikes Market Size by Country (2021-2026)
- 7.2.3 North America Lithium-ion Batteries for Electric Bikes Market Size Forecast by Country (2027-2032)
8 Europe by Country
- 8.1 Europe Lithium-ion Batteries for Electric Bikes Sales by Country
- 8.1.1 Europe Lithium-ion Batteries for Electric Bikes Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 8.1.2 Europe Lithium-ion Batteries for Electric Bikes Sales by Country (2021-2026)
- 8.1.3 Europe Lithium-ion Batteries for Electric Bikes Sales Forecast by Country (2027-2032)
- 8.2 Europe Lithium-ion Batteries for Electric Bikes Market Size by Country
- 8.2.1 Europe Lithium-ion Batteries for Electric Bikes Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 8.2.2 Europe Lithium-ion Batteries for Electric Bikes Market Size by Country (2021-2026)
- 8.2.3 Europe Lithium-ion Batteries for Electric Bikes Market Size Forecast by Country (2027-2032)
9 Asia-Pacific by Country
- 9.1 Asia-Pacific Lithium-ion Batteries for Electric Bikes Sales by Country
- 9.1.1 Asia-Pacific Lithium-ion Batteries for Electric Bikes Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 9.1.2 Asia-Pacific Lithium-ion Batteries for Electric Bikes Sales by Country (2021-2026)
- 9.1.3 Asia-Pacific Lithium-ion Batteries for Electric Bikes Sales Forecast by Country (2027-2032)
- 9.2 Asia-Pacific Lithium-ion Batteries for Electric Bikes Market Size by Country
- 9.2.1 Asia-Pacific Lithium-ion Batteries for Electric Bikes Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 9.2.2 Asia-Pacific Lithium-ion Batteries for Electric Bikes Market Size by Country (2021-2026)
- 9.2.3 Asia-Pacific Lithium-ion Batteries for Electric Bikes Market Size Forecast by Country (2027-2032)
10 South America by Country
- 10.1 South America Lithium-ion Batteries for Electric Bikes Sales by Country
- 10.1.1 South America Lithium-ion Batteries for Electric Bikes Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 10.1.2 South America Lithium-ion Batteries for Electric Bikes Sales by Country (2021-2026)
- 10.1.3 South America Lithium-ion Batteries for Electric Bikes Sales Forecast by Country (2027-2032)
- 10.2 South America Lithium-ion Batteries for Electric Bikes Market Size by Country
- 10.2.1 South America Lithium-ion Batteries for Electric Bikes Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 10.2.2 South America Lithium-ion Batteries for Electric Bikes Market Size by Country (2021-2026)
- 10.2.3 South America Lithium-ion Batteries for Electric Bikes Market Size Forecast by Country (2027-2032)
11 Middle East and Africa by Country
- 11.1 Middle East and Africa Lithium-ion Batteries for Electric Bikes Sales by Country
- 11.1.1 Middle East and Africa Lithium-ion Batteries for Electric Bikes Sales Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 11.1.2 Middle East and Africa Lithium-ion Batteries for Electric Bikes Sales by Country (2021-2026)
- 11.1.3 Middle East and Africa Lithium-ion Batteries for Electric Bikes Sales Forecast by Country (2027-2032)
- 11.2 Middle East and Africa Lithium-ion Batteries for Electric Bikes Market Size by Country
- 11.2.1 Middle East and Africa Lithium-ion Batteries for Electric Bikes Market Size Growth Rate (CAGR) by Country: 2021 VS 2025 VS 2032
- 11.2.2 Middle East and Africa Lithium-ion Batteries for Electric Bikes Market Size by Country (2021-2026)
- 11.2.3 Middle East and Africa Lithium-ion Batteries for Electric Bikes Market Size Forecast by Country (2027-2032)
12 Value Chain and Sales Channels Analysis
- 12.1 Lithium-ion Batteries for Electric Bikes Value Chain Analysis
- 12.1.1 Lithium-ion Batteries for Electric Bikes Key Raw Materials
- 12.1.2 Key Raw Materials Price
- 12.1.3 Raw Materials Key Suppliers
- 12.1.4 Manufacturing Cost Structure
- 12.1.5 Lithium-ion Batteries for Electric Bikes Production Mode & Process
- 12.2 Lithium-ion Batteries for Electric Bikes Sales Channels Analysis
- 12.2.1 Direct Comparison with Distribution Share
- 12.2.2 Lithium-ion Batteries for Electric Bikes Distributors
- 12.2.3 Lithium-ion Batteries for Electric Bikes Customers
13 Concluding Insights
14 Appendix
- 14.1 Reasons for Doing This Study
- 14.2 Research Methodology
- 14.3 Research Process
- 14.4 Authors List of This Report
- 14.5 Data Source
- 14.5.1 Secondary Sources
- 14.5.2 Primary Sources
- 14.6 Disclaimer
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