Batteries
67
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6.7 The Future of EV Batteries
The future of EV batteries looks increasingly promising as sales continue
to rise dramatically and prices continue to drop. One Chinese company
already claims that in 2020 it will be able to make battery packs for under
$100/ kWh, which is a typical calculated price for EVs to be cheaper than
combustion engine vehicles (Evarts, 2018). Bloomberg New Energy Finance
projects that lithium battery packs will cost $70 kWh in 2030 (Morsy, 2018),
and Lei Zheng, Envision CEO, has predicted $50/ kWh battery prices by
2025 (Rufiange, 2018). Table 6.1 shows that the average decline in battery
prices has historically been about 20% each year. If this continues, battery
prices will be less than $50/ kWh in 2025. This is not taking into consideration the possibility of “transformational” developments, such as new
battery types emerging. For example, research is currently being done
to develop zinc- air and other metal- air batteries. Zinc- air batteries have
captured the focus of research due to their potential for high energy
densities and low production costs (Li and Dai, 2014). Electrify America
announced, along with the launch of their app, that the company now
offers two membership plans for EV drivers and a pricing structure that
lowers the introductory starting cost by about 20% (Electrify America
LLC, 2019).
Lastly, other factors pushing the growth of EV batteries continue to emerge
and develop. The California Legislature is pushing for carbon- free power by
2045 (Szymkowski, 2018). Many countries have publicly released their goals
to decrease or eliminate internal combustion engine vehicle sales by certain
dates (Burch and Gilchrist, 2018). The significant increase in battery energy
density has already allowed for ranges of above 200 miles on a full charge for
many current EVs (Gorzelany, 2019).
References
ampUp. (n.d.); http:// ampup.io/
Arcus, C. (2016, May 31). Battery lifetime: How long can electric vehicle batteries
last? CleanTechnica; cleantechnica.com/ 2016/ 05/ 31/ battery- lifetime- long- canelectric- vehicle- batteries- last/
Bakke, G.A. (2017). The Grid: The Fraying Wires Between Americans and Our Energy
Future. New York, NY, Bloomsbury.
Ball, J. (2019, June). The race to build a better battery. Fortune 202– 215; fortune.com/
Insteading (2015). Battery recycling: How we’ll keep electric vehicle batteries
out of landfills; https:// insteading.com/ blog/ battery- recycling- how- wellkeep- electric- vehicle- batteries- out- of- landfills/
67
67
6.7 The Future of EV Batteries
The future of EV batteries looks increasingly promising as sales continue
to rise dramatically and prices continue to drop. One Chinese company
already claims that in 2020 it will be able to make battery packs for under
$100/ kWh, which is a typical calculated price for EVs to be cheaper than
combustion engine vehicles (Evarts, 2018). Bloomberg New Energy Finance
projects that lithium battery packs will cost $70 kWh in 2030 (Morsy, 2018),
and Lei Zheng, Envision CEO, has predicted $50/ kWh battery prices by
2025 (Rufiange, 2018). Table 6.1 shows that the average decline in battery
prices has historically been about 20% each year. If this continues, battery
prices will be less than $50/ kWh in 2025. This is not taking into consideration the possibility of “transformational” developments, such as new
battery types emerging. For example, research is currently being done
to develop zinc- air and other metal- air batteries. Zinc- air batteries have
captured the focus of research due to their potential for high energy
densities and low production costs (Li and Dai, 2014). Electrify America
announced, along with the launch of their app, that the company now
offers two membership plans for EV drivers and a pricing structure that
lowers the introductory starting cost by about 20% (Electrify America
LLC, 2019).
Lastly, other factors pushing the growth of EV batteries continue to emerge
and develop. The California Legislature is pushing for carbon- free power by
2045 (Szymkowski, 2018). Many countries have publicly released their goals
to decrease or eliminate internal combustion engine vehicle sales by certain
dates (Burch and Gilchrist, 2018). The significant increase in battery energy
density has already allowed for ranges of above 200 miles on a full charge for
many current EVs (Gorzelany, 2019).
References
ampUp. (n.d.); http:// ampup.io/
Arcus, C. (2016, May 31). Battery lifetime: How long can electric vehicle batteries
last? CleanTechnica; cleantechnica.com/ 2016/ 05/ 31/ battery- lifetime- long- canelectric- vehicle- batteries- last/
Bakke, G.A. (2017). The Grid: The Fraying Wires Between Americans and Our Energy
Future. New York, NY, Bloomsbury.
Ball, J. (2019, June). The race to build a better battery. Fortune 202– 215; fortune.com/
Insteading (2015). Battery recycling: How we’ll keep electric vehicle batteries
out of landfills; https:// insteading.com/ blog/ battery- recycling- how- wellkeep- electric- vehicle- batteries- out- of- landfills/