Springing Towards Affordable EVs with Reduced Battery Cost

Can electric cars be really affordable? At least for now, the price tags of most electric vehicle are not attractive enough for general consumers. But the good news is that the cost of electric vehicle battery has dropped about 80% since 2011 down to $227/kWh. As the core component that largely determines the cost of production for electric cars, this drop is exciting news. And Telsa is just about to make the battery even cheaper. There are two ways to bring down the cost of battery production. One is to develop a completely new technology that outperforms the current one without adding extra manufacturing cost. The other is to simply massively scale up the current production lines. Telsa is trying the later approach with the Gigafactory. The company is aiming at a 35% cost reduction in a new teaser video. After the Gigafactory is running at its full capacity, the…

Read More…