18 Apr '12, 4pm

Cost of Advanced Lithium-Ion Batteries for EVs Dropped 14% Last Year, 30% Since 2009

Steady Progress on Electric Car Batteries Nothing is more important for the long-term success of electric cars than a steady reduction in the cost of advanced batteries. It's like compound interest; for a while, these small incremental improvements don't seem like much, but after a number of years you've got double what you had before (or the same thing, but at half the price). © Michael Graham Richard The good news is that in the past year, battery prices have dropped pretty significantly, according to Bloomberg : The average price of lithium-ion battery packs for electric vehicles fell 14 percent in the past year as production capacity exceeded demand, Bloomberg New Energy Finance said. Batteries cost $689 a kilowatt-hour in the first quarter of 2012, compared with $800 a year earlier, the London-based research company said today in a statement. Prices for batteries have...

Full article: http://www.treehugger.com/cars/cost-advanced-lithium-ion-...

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