EV Batteries Cost

EV Batteries Cost

by admin, April 28, 2021

EV Batteries Cost

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As mentioned in the other article this month, EVs (electric vehicles) are without a doubt the future of the auto industry. Tesla broke the barrier and now automakers around the globe are committing to an emission-free future. However, if you have a conversation with anyone in the industry regarding new EVs the topic of battery cost will probably be brought up. The cost of EV batteries is a big reason, if not the main reason, why more people are not hopping on board. 

Today the price per kWh (kilowatt-hour) is sitting at around $150. At this price, when you pencil it out, you do not end up saving that much money by driving an EV compared to a gasoline powered car. In some cases, you might even be paying more. However, like the batteries in our cell phones, they are trending in the right direction. They are getting better and improving drastically. 

General Motors Co. is one car company that is very close to finding the way to a cheaper battery. GM is currently experimenting with silicon-rich and lithium metal anodes, solid state and high voltage electrolytes, and dry processing of electrodes for its next generation Ultium batteries, due around 2025. This new technology could very well reduce battery cell costs to under $100 per kWh by 2025. GM executives also expect future versions of their batteries to last for a million miles or more, with driving ranges of 500-600 miles between charges. That range is almost double of what is considered an “efficient” gasoline car today. 

Companies like GM already have the technology and outlook for an unimaginable emission-free future. It is just a matter of time before all companies find their own unique technology to drive down battery costs and improve efficiency. EV is the future and before you know it gasoline cars will be nothing but a thing of the past. 

For more information on EVs stay updated here on our monthly blog.