electric car charging station companies:Electric cars are more affordable
“I would be disappointed if the price per kWh was not in the $100 dollar range by 2020.”
-J.B. Straubel, CTO Tesla Motors
Digital cameras and solar panels were once expensive. Not anymore. These technologies followed a steep ‘learning curve’ and declining costs. A similar fate awaits the electric car.
In 2010 — when the very first Nissan LEAF came to market — lithium-ion battery prices were around $1000 per kWh. In 2013, at the time of Tesla introducing its Model S, analysts concluded that battery prices had dropped to around $400 per kWh. GM announced a price of $145 per kWh for its all electric Bolt which will be introduced in 2016. Tesla Motors expects to produce batteries in the range of $100 in 2020.
The Chevrolet Bolt is expected to go in production in 2016. It is expected to be the first affordable, long range pure electric car.
The trend is clear: the price of batteries is declining at an annual rate of around 20%, while the internal combustion engine is getting more expensive in order to comply with emission regulations.
It may be hard to imagine today, but we’ll soon see the day that electric cars are cheaper to purchase than comparable gasoline cars. In markets with high taxes on polluting vehicles, electric cars will be competitive even sooner.