Electric cars will become cheaper: the price of batteries are falling

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Electric cars will become cheaper: the price of batteries are falling

It is no secret that the high cost of electric vehicles due to the considerable costs of the battery, so the news that has been like the last 10 years steadily cheaper, frankly encouraging.

According to a fresh study by Bloomberg, this year the average price of lithium-ion batteries for electric vehicles on average dropped to about 156 dollars per 1 kWh, which is about 87% lower than in 2010 (more than $ 1,100 per 1 kWh).

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The downward trend will continue in the future: it is expected that in 2023 1 kWh battery will cost automakers about $ 100. And when will overcome the barrier of $ 100, what will happen in 2024 electric vehicles will begin to match the price of petrol and diesel cars, experts say.

What are the causes of reducing the cost of electric battery? First, the increasing demand for them: the more orders, the cheaper the production. And secondly, the continuous improvement and the cheapening of production technologies: in particular, the eyes of engineers aimed at creating a stable battery with high energy density using a cathode.

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In other words we can say that a significant reduction in price of electric cars will happen when they will be massive. Well the market demand and technology development that will benefit.

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