Daily Management Review

Electric cars forecasted to reach prices of fuel cars


The cost of batteries for electric cars has plummeted 89 percent over the past decade, from $1110 to $137 per kilowatt-hour.

According to Bloomberg news agency with reference to experts, it means that by 2023, companies will be able to sell electric cars at the same prices at which they sell conventional cars.

According to experts of the car market, cost of batteries will reach $101 per kilowatt-hour already in three years. It is explained that even if prices of batteries used in the production of batteries (nickel, cobalt, lithium and others) return to the highs of 2018, battery prices will still be below $100 in a few years. 

The agency explains that the battery is the most expensive part in making an electric car. It accounts for about 30% of the total cost to the end buyer.

For example, the world's largest electric car manufacturer, the US company Tesla, pays an average of $115 per kilowatt-hour (a year ago it was $128).

source: bloomberg.com