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For the first time, electric transport has become more cost-effective than with internal combustion engines

Asia / Engineering

Prices for batteries for electric buses in China fell below the psychological mark of $ 100 per kilowatt hour for the first time in history.

For the first time, electric transport has become more cost-effective than with internal combustion engines

Battery prices for electric vehicles for the first time officially fell below the critical $ 100 per kilowatt hour mark.

“This is the first time battery prices have been reported for less than $ 100 per kilowatt hour. These were batteries for electric buses in China, "says message BloombergNEF. </p >

It is generally accepted in the automotive industry that $ 100 per kilowatt-hour for battery packs is the threshold price for the competitiveness of electric vehicles versus gasoline-powered vehicles.

“This is a historic milestone when the kit prices are listed at less than $ 100 per kWh. In just a few years, we will see the industry average price pushing past this mark, ”said James Frith, Head of Energy Storage Research at BloombergNEF.

Electric vehicles with these batteries are more cost-effective than gasoline vehicles in terms of total cost of ownership due to much lower fuel costs.

The cost of a battery at $ 100 per kilowatt-hour is critical to wider adoption of EVs as it makes EVs cost-competitive, an important psychological barrier for many buyers.

Average prices for lithium-ion battery packs, which were above $ 1,100 per kilowatt-hour in 2010, fell 89% in real terms to $ 137 per kilowatt-hour in 2020. By 2023, average battery prices for electric vehicles will fall below $ 100 /kWh.

BloombergNEF expects new batteries can be manufactured at 40% of the cost of existing lithium-ion batteries in mass production. These reductions will come from savings in material and production costs, equipment and the introduction of new high energy density cathodes.

“To realize these reduced prices, it is necessary to establish a supply chain for basic materials such as solid electrolytes that are not used in lithium-ion batteries today,” it said.

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