Electric vehicles could soon have prices rivaling those of conventional gasoline vehicles, if battery prices get below $100 per kilowatt hour. Credit: Open Grid Scheduler/Grid Engine/Flickr Inside Clean Energy At some point, probably sooner than you expect, the price of an all-electric vehicle will fall far enough to equal the cost of an equivalent gasoline vehicle. We know that day is coming and a whole lot of people—many of whom work in the auto industry—would like to know when. So here’s an answer: Maybe by 2023, probably by 2024 and almost definitely by 2025. That’s according to Venkat Viswanathan and his team of researchers at Carnegie Mellon University in Pittsburgh. They developed a model to calculate the costs of EV batteries that breaks down the costs of each component and then predicts changes over time. "There will definitely be cars, passenger vehicles, in multiple segments where the EV option is the cheaper option," Viswanathan said about the 2025 timeframe. When we talk about the cost of EVs, we’re mainly talking about the cost of batteries, which are the most expensive components in the vehicle, and also the ones for which the costs are changing most quickly. Analysts and researchers […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.