Fall in battery prices good news for the cost of electric vehicle prices

Electric vehicle's battery chargingFall in battery prices good news for the cost of electric vehicle prices

One of the hardest and most critical factors to project when it comes to electric vehicles is the price of batteries, which make up a huge portion of an electric vehicle’s price. However, the trend is pretty obvious.

The cost of battery prices for electric vehicles have fallen 40% since 2010. Regarding the future, BMW board member Ian Robertson says, “in the next three to four years there will be more progress in battery development than in the previous 100 years.”

When it comes to total ownership costs, EVs are already cheaper than petrol equivalents for many people. As battery prices continue to drop, more and more EVs will be cheaper from Day 1. At such a point, what we be the rationale for buying a petrol vehicle?

If range is the only remaining issue (and that shouldn’t even be an issue within a few years), people can simply rent a car once in awhile for those long-distance trips. Doing so would be far, far cheaper than buying a petrol car for that occasional need.

Source: Clean Technica