By David Fessler I started writing about electric vehicles more than a decade ago.
Back then, only Tesla (Nasdaq: TSLA) was making EVs.
Prices were astronomical.
That’s because, in an EV, the battery pack costs a fortune.
In 2010, battery prices averaged more than $1,100 per kilowatt-hour (kWh). Skeptics said EVs would never be cost competitive.
But what a difference a decade makes…
Driving Down Battery Prices
Last year, EV batteries cost less than $156/kWh. By 2030, the average price could be down to $61/kWh!
High-volume, automated manufacturing continues to lower the cost of producing lithium-ion batteries. And reducing the cost of the battery pack reduces the overall EV cost.
Tesla’s massive …read more
