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EV’s could cost similar to ICE vehicles as the price of the EV batteries is decreasing
EV’s could cost similar to ICE vehicles. The price of EV batteries is decreasing and soon we will be able to buy EV’s that will cost close to the value of internal combustion engine vehicles.
Several years ago, an electric car’s lithium-ion battery pack cost about $1,110 per kilowatt-hour. Now according to the information put out by BloombergNEF, the cost has plummeted by 89% to $137 per kilowatt-hour. And by 2023, we can expect that the cost is going to decrease and allow car manufacturers to truly start pricing EVs at price parity with ICE vehicles. Since the battery pack is the most expensive component of the EV, it contributes 30% of the overall cost to the customers.
BloombergNEF report found that some EV batteries have dropped to approximately $100 per kilowatt-hour in China. This is the price that analysts predict for the market to hit broadly by 2023 or 2024. As Logan Goldie-Scot says, “Within four years, major automakers should be able to produce and sell mass-market electric vehicles at the same price and with the same margin as internal combustion engine equivalents”.
So, these days EV’s are cheaper than conventional cars. They need less maintenance and electricity costs less than fuel. Also, some of the luxury EV’s with their luxury gas counterparts are already in price-parity. And since the price of EV batteries is decreasing it will get more common without any subsidies. In addition, if any developments in battery technology arise, the cost can decrease even more.
Citroën collaborates with Greece to transform Greek islands into green and sustainable islands. Greece plans on making all of its inhabited islands more environmentally friendly as part of a goal to reduce harmful emissions by, at least, 55% until 2030. As a result, the Ministry of Energy and Environment signed the “GR-eco Islands” plan. It …
As electric vehicles (EVs) become increasingly popular, the demand for efficient and reliable charging solutions is growing. A Smart EV Charger with Dynamic Load Balancing (DLB) offers a cutting-edge solution for homeowners looking to optimize their energy consumption while ensuring the safety and longevity of their electrical system. This advanced technology adjusts the charging power …
In Geneva’s Motor Show, Aston Martin revealed the Lagonda All-Terrain EV concept. This luxury all-electric SUV will be the first electric car from Aston Martin. The production is scheduled to start in 2022. So far Aston Martin hasn’t released any specifications for the EV. Although, we should expect all-wheel drive and 480km of range between …
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EV’s could cost similar to ICE vehicles as the price of the EV batteries is decreasing
EV’s could cost similar to ICE vehicles. The price of EV batteries is decreasing and soon we will be able to buy EV’s that will cost close to the value of internal combustion engine vehicles.
Several years ago, an electric car’s lithium-ion battery pack cost about $1,110 per kilowatt-hour. Now according to the information put out by BloombergNEF, the cost has plummeted by 89% to $137 per kilowatt-hour. And by 2023, we can expect that the cost is going to decrease and allow car manufacturers to truly start pricing EVs at price parity with ICE vehicles. Since the battery pack is the most expensive component of the EV, it contributes 30% of the overall cost to the customers.
BloombergNEF report found that some EV batteries have dropped to approximately $100 per kilowatt-hour in China. This is the price that analysts predict for the market to hit broadly by 2023 or 2024. As Logan Goldie-Scot says, “Within four years, major automakers should be able to produce and sell mass-market electric vehicles at the same price and with the same margin as internal combustion engine equivalents”.
So, these days EV’s are cheaper than conventional cars. They need less maintenance and electricity costs less than fuel. Also, some of the luxury EV’s with their luxury gas counterparts are already in price-parity. And since the price of EV batteries is decreasing it will get more common without any subsidies. In addition, if any developments in battery technology arise, the cost can decrease even more.
EV’s could cost similar to ICE vehicles
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Citroën collaborates with Greece on the “GR-eco Islands” plan.
Citroën collaborates with Greece to transform Greek islands into green and sustainable islands. Greece plans on making all of its inhabited islands more environmentally friendly as part of a goal to reduce harmful emissions by, at least, 55% until 2030. As a result, the Ministry of Energy and Environment signed the “GR-eco Islands” plan. It …
Smart EV Charger with Dynamic Load Balancing
As electric vehicles (EVs) become increasingly popular, the demand for efficient and reliable charging solutions is growing. A Smart EV Charger with Dynamic Load Balancing (DLB) offers a cutting-edge solution for homeowners looking to optimize their energy consumption while ensuring the safety and longevity of their electrical system. This advanced technology adjusts the charging power …
Aston Martin Reveals The Lagonda All-Terrain Concept
In Geneva’s Motor Show, Aston Martin revealed the Lagonda All-Terrain EV concept. This luxury all-electric SUV will be the first electric car from Aston Martin. The production is scheduled to start in 2022. So far Aston Martin hasn’t released any specifications for the EV. Although, we should expect all-wheel drive and 480km of range between …