Electric Car Battery Prices Fell By 80% In the Last 7 Years, Says Study

An anonymous reader quotes a report from Hardavenue: According to the study made by McKinsey, the cost of electric car batteries has decreased by 80% since 2010. Tesla offers much lower cost batteries. As electric cars become more widely used, drivers are expected to see lower prices for electric cars and lower charging costs, as well as increased awareness of climate-changing carbon-emissions-rich gasoline and diesel vehicles. The reduction in the production costs of electric cars is very important for both the company and the drivers because if the production costs are low, the drivers will have a low price electric cars and it will be easier to spread these vehicles. According to McKinsey’s research on the sale of electric cars and the profitability of companies, the costly electric vehicle batteries are the biggest obstacle ahead of the profitability of the companies, but this will come to an end in the near future, as the cost of electric vehicle batteries will fall below $100 per kWh. According to the research result, we can see that the same batteries can be produced at 227 kWh per kWh in 2010, while an electric car battery at 1000 USD per kWh. Of course, this cost is still very high compared to the battery cost of a car with a similar derivative internal combustion engine, but the researchers think that the cost of electric vehicles will decline evenly, and that by 2020 there will be $ 190 per kWh and $ 20 per kWh less than $ 100 per kWh. The pioneer in the field of electric cars, is one step ahead of competition. McKinsey’s research suggests electric car battery costs to be $ 190 in 2020, while Tesla has already announced that in 2016, battery costs are $ 190 per kWh. Elon Musk has earlier announced that in 2020 the cost of the battery will be at the level of $ 100 per kWh.

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