The higher cost of owning an electric versus a gas-powered vehicle is a sticking point for many would-be buyers of EVs. Now, the price of a key EV component is falling, raising hopes that automakers could close the gap as they grapple with waning demand.
Batteries make up about one-third to one-fourth of the cost of producing an electric vehicle, according to Goldman Sachs analysts. The firm predicts the global average cost to automakers for batteries in 2024 will average about $115 per kilowatt hours, about 23% lower than last year. Prices are expected fall another 20% in 2025.
YAHOO FINANCE
https://www.autoblog.com/2024/08/05/ev-costs-on-track-to-match-gas-guzzlers-next-year-as-battery-prices-drop-dramatically/
Batteries make up about one-third to one-fourth of the cost of producing an electric vehicle, according to Goldman Sachs analysts. The firm predicts the global average cost to automakers for batteries in 2024 will average about $115 per kilowatt hours, about 23% lower than last year. Prices are expected fall another 20% in 2025.
YAHOO FINANCE
https://www.autoblog.com/2024/08/05/ev-costs-on-track-to-match-gas-guzzlers-next-year-as-battery-prices-drop-dramatically/
