Electric cars solve ecological problem, but create another one – financial. Manufacturing of those low-consuming vehicles is expensive process what reflects in their prices, but according to the researches of Reuters soon the prices will reduce by 70%.
However the word “soon” is comparative here, Reuters suggests the cost of lithium-ion batteries used in electric vehicles could plummet dramatically by 2025. What will make the prices plunge down? First of all – increasing oil prices and tougher fuel economy standards which make automakers build more electric cars, thereby producing more lithium-ion batteries which are considered one of the most expensive parts in electric cars. All told, the study expects to see prices fall from $500-$600 per kilowatt hour to $200 by 2020 and $160 by 2025.
Reuters itself shows examples - the 23 kilowatt hour battery in the 2013 Ford Focus Electric is estimated to cost between $12,000 and $15,000.
Consulting firm McKinsey & Co. which conducted the study claims that if fuel prices hold steady at $3.50 per gallon and batteries fall to the projected levels, automakers could begin to offer price-competitive electric vehicles.
