A recently released auto industry report by the Economist publication has shown that consumers will pay far less to purchase an electric car by 2025…
According to the Open Grid Scheduler, prices of electric vehicles will soon rival the regular vehicle prices. All this should happen once the battery prices fall below $100 per kilowatt-hour.
When will the change happen? According to researchers based at Pittsburgh’s Carnegie Mellon University, electric car battery prices will probably fall to the desired range (under $100 per kilowatt-hour) by 2023, 2024, or 2025.
Many auto industry gurus are convinced that it will happen by 2025. The Carnegie Mellon University team, led by Venkat Viswanathan, first developed a model used to calculate EV battery costs. The model breaks down the individual component costs and subsequently predicts the changes over time.