New Chemistries, Cheaper Metals Spark EV Battery Price Declines
This is a guest post from John Gartner, Vehicle Electrification and Mobility Consultant and Researcher. Originally posted on June 18, 2020.
If electric vehicles are to become mainstream, they need to become comparable to internal combustion engine vehicles in their purchase price. Reducing the cost of the EV battery packs – a major contributor to the overall price tag – is essential to reaching price parity. Battery costs are expected to continue their downhill slide due to declining material costs as well as manufacturers eliminating the use of premium-priced metals.