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How much have electric-car battery costs fallen?

High-cost lithium-ion batteries use large-scale electric vehicles as one of the main obstacles, as they usually lead to higher prices than the purchase of electric vehicles than the internal combustion engine model.

But electric car battery prices have fallen sharply, according to a recent study.

The global trend of renewable energy, requiring price reduction for electric vehicle batteries “spectacular.”

Referring to chemistry, improved production processes and economies of scale, the authors of the study at the Frankfurt School of Finance and Management saw a bright future for electric vehicles.

According to the study, the average annual cost of electric vehicle batteries fell between 2010 and 2015.

Between 2014 and 2015, the average cost fell by 35%.

Tesla gigafactory, March 2016, shown in drone footage posted to YouTube by Above Reno

Tesla gigafactory, March 2016, shown in drone footage posted to YouTube by Above Reno

In addition to reducing costs by changing the chemistry of the cells and manufacturing processes, the study also points to cost reductions due to “radical pricing strategies” by large battery manufacturers seeking to defend their market share.

Tesla opened a huge “Gigafactory” in Nevada to provide greater economies of scale as a contributor.

Gigafactory began producing lithium batteries this month using its Powerwall 2 and Power Pack 2 storage batteries.

Tesla hopes to start cell production for model 3 electric vehicles in the second quarter of this year, expected at 35 watts per hour for Gigafactory cells by 2018.

Global electric vehicle sales in 462000 reached 462,000, more than 290,000 in 2014, according to the study.

The steady growth in sales The number of modern electric vehicles first put on sale since about six years ago, predicts the development of the future there is a big difference.

2017 Nissan Leaf

2017 Nissan Leaf

Not so optimistic side, OPEC expects 170 million years of electric cars in the world road.

But Bloomberg estimates that 7.4 million electric vehicles will be on the road until then, only 2 million by 2020.

Bloomberg also hopes that electric vehicles will account for 35% of light vehicle sales in 2040.

It is unclear, the forecast will prove to be closer to reality, but lower battery costs can only help the adoption of electric vehicles.

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