The purpose of this legislation is to create safety standards for lithium-ion batteries used in consumer products, particularly in light electric vehicles, e-bikes, and personal mobility devices. The goal is to enhance consumer safety by ensuring that these batteries meet specific safety criteria, which can help prevent hazards such as fires and explosions. Key provisions of the legislation require the Consumer Product Safety Commission to establish safety standards based on existing industry standards within 180 days of the law's enactment.