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Electric Cars May Be Cheaper than Gas Guzzlers by 2025 due to the decline of the lithium battery cost

- Apr 10, 2018 -

By 2025 Electric Cars may be Cheaper than Gas Guzzlers with the decline of the lithium battery cost, according to some social medias.

 

According to Peng Bo New Energy finance report, Electric cars will be fair price compare to Gas Guzzlers by 2024 and even reach a cheaper price in 2025. It also stated that in order to facilitate these goals, and considering the increase of the metal required in the usage of lithium battery, the price of batteries will decrease.

Along with the prevalent trend that countries and companies competing to clean cities smog and fulfill the climate ambition goal set on Paris protocol, the voice to promote the electric cars is getting louder and louder.

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With the push of technology and market requirements, Electric car battery prices are estimated to be cut down 67 percent by 2030.

Lithium storage battery large production add to the expectation that will help to push the battery’s  price to decrease to 70 dollar/kWH. In 2017, the average price of lithium ion battery is about 208 dollar/kWH, which will reduce the profit rate of Electric car, takes 2/5 fraction gross cost on new energy car.