Lithium bis(oxalato)borate is primarily used as an electrolyte additive in lithium-ion batteries. It enhances the battery's performance by improving the stability of the electrolyte and the solid electrolyte interphase (SEI) layer on the anode. This leads to better cycling performance, increased thermal stability, and reduced risk of decomposition at high voltages. Additionally, it helps in minimizing the formation of dendrites, which can cause short circuits, thereby improving the safety and longevity of the battery. Its application is particularly valuable in high-energy-density batteries used in electric vehicles and portable electronics.