Electric Vehicle Evangelism

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Falling battery prices

When the first mass-market EVs were introduced in 2010, their battery packs cost an estimated $1,000 per kilowatt-hour (kWh). Last year, General Motors' 2017 Chevrolet Bolt battery pack is estimated to cost about $205 per kWh. Tesla's Model 3 battery pack costs $190 per kWh. As more Gigi battery factories are built, prices continue to fall. According to Elon Musk, because of improved battery chemistry, production improvements, increased production volume, and improved integration, Tesla is on track to obtain below $100/kWh at the pack level in 2021. Tesla has been dropping their manufacturing cost about 15% per year. By 2023 because of falling production costs, improved charging times, and longer single charge driving distance capabilities, EVs will have indisputably won the competition with fossil fuel power-trains.

TNflash 64 days ago

DI 16.17

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