Electric Car Batteries To Plummet In Cost Over The Next Decade: Report

Electric Car Batteries To Plummet In Cost Over The Next Decade: Report
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When we told you how much the all-electric Holden Volt would be a few weeks ago, a huge argument broke out over the cost of the car compared to its petrol cousin, the Holden Cruze. Turns out that the batteries reportedly only add around $9000 to the $59,990 cost and that number is set to drop over the next 10 to 15 years.

According some research picked up by The Motor Report, the cost of batteries that car manufactures are currently putting into electric cars like the Mitsubishi iMiev, the Holden Volt and the Nissan Leaf won’t be so expensive when the year 2025 rolls around.

That’s according to a study by a consulting firm called McKinsey & Co, who reckon that because tighter of the energy standards and environmental regulations that will be introduced over the next decade the demand for electric cars will increase.

The efficiencies that come with better battery technology over the years, along with the economy of scale that comes with mass-producing electric cars, will drop the prices significantly.

Here’s hoping, because I don’t think many people are prepared to spend $60,000 on an all-electric sedan right now. [TMR]