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Reducing the cost of electric drive systems from $30/kW to $8/kW. When these goals are met, the levelized cost of an all-electric vehicle with a 280-mile range will be comparable to that of an ICE vehicle of similar size. That would take a 55 kW system cost of $1,650 down to $440 and increase power density from 1.1 kW/kg to 1.4
Several types of policies including a price floor for petroleum-based fuels or taxes on petroleum-based fuels could create a price signal against petroleum demand, assure producers and distributors that there is a profitable market for alternative fuels, and encourage consumers to reduce their use of petroleum- based fuels.
For example the volumetric energy density of lithium-ion batteries has increased eightfold since 2008, from around 55 watt-hours/litre to 450 watt-hours/litre in 2020. At the same time the cost of lithium-ion battery packs declined 87% between 2008 and 2021. This could potentially lead to electric cars with a much longer range.
Although the higher upfront costs have long been a barrier to EV adoption, major automakers like Tesla, Chevrolet, Nissan, and Hyundai are also lowering the cost of their current models. Some other Battery news are, New developments and experiments in battery chemistries like lithium-air and magnesium-ion are going on.
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