Don’t look now but the price of batteries packs are coming down.
Battery cell costs will fall about 8% a year, according to a Stockholm Environment Institute study that found battery costs have been overestimated. Cells for electric vehicles fell about 14% a year from 2007 to 2014, according to the study.
Battery electric vehicles (EVs) are one of the key alternatives to gas- and diesel-driven vehicles. The costs of battery cells has always been one of biggest obstacles to the development of EVs, forcing manufacturers to trade off between a model’s price and the range it can travel on a single charge, the institute reported. (more…)