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U.S. EV adoption is happening faster than anticipated

Teslarati

He added that battery electric vehicles cost too much and that the infrastructure isn’t ready for recharging the batteries away from home. “I This is a huge component of the cost of EVs. ” Scott added that there was a 97% cost reduction in lithium-ion battery prices over the past three decades up to 2018.

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BCG Report Expects Battery Costs Will Constrain Widespread Market Adoption of Fully Electric Vehicles, Absent a Technology Breakthrough; Forecasts 26% of Major Market New Cars in 2020 To be Hybrid or Electric

Green Car Congress

As an example of cost direction, BCG forecasts that NCA cell and pack costs will decline 60-65% by 2020. Despite this cost challenge, however, the report projects steady growth for hybrid and electric cars—including mild- and full-hybrids; plug-in hybrids; extended range electric vehicles; and fully electric vehicles.