Photo: gigaom.com
While you may think no dramatic reduction in the cost of batteries is possible within the next 10 years, you’d be wron, according to McKinsey Quarterly, who have done a study on the matter. Their conclusion is that the price of batteries, and more specifically the lithium-ion variety, will get a considerable reduction in price, within the next 8 years.
According to the study, the price could fall from $500-$600 per kWh, to as little as $200 by 2020, and, even lower by 2025, at $160. This means that their price would drop three times - this should spur on the EV industry, more than anything else. Now, since the very high battery costs are not allowing manufacturers to sell their EVs with a competitive price tag, the drop in battery costs will definitely give the industry a much-needed boost.
We hope the information is accurate, because if it is, EVs will finally be allowed to take over from their oil-buring counterparts, matching (and surpassing) them not only on performance and economy, but, hopefully, even on price.
We hope the information is accurate, because if it is, EVs will finally be allowed to take over from their oil-buring counterparts, matching (and surpassing) them not only on performance and economy, but, hopefully, even on price.
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