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Wednesday, March 25, 2015

Electric vehicle batteries 'already cheaper than 2020 projections'

Simon Evans writes in Electric vehicle batteries 'already cheaper than 2020 projections':

The cost of electric vehicle battery packs is falling so rapidly they are probably already cheaper than expected for 2020, according to a new study in Nature Climate Change.

Electric vehicles remain more expensive than combustion-engine equivalents, largely because of battery costs. In 2013 the International Energy Agency (IEA) estimated cost-parity could be reached in 2020, with battery costs reaching $300 per kilowatt hour of capacity.

But market-leading firms were probably already producing cheaper batteries last year, says today's new research. It says its figures are "two to four times lower than many recent peer-reviewed papers have suggested".