EV Batteries are expensive; So expensive that drives up buyer cost.
Tesla’s Model 3 battery pack costs $190 per kWh;
General Motors’ Chevrolet Bolt battery pack is estimated to cost about $205 per kWh.
Analysts predicted the cost of an EV battery will fall below $100/kwh by 2025.
The cost of EV batteries will continue to make it difficult for Tesla & OEMs to make a profit.
Replacement Batteries: What is the Cost to replace an EV battery?
Replacement hybrid car battery can range anywhere from $1,000 to more than $6,000, depending on the year & model of car.
While is a big expense, car makers are set on reducing prices.
Tesla’s new batteries will rely on low-cobalt and cobalt-free battery chemistries, & the use of chemical additives, materials and coating;
CATL also has developed a simpler and less expensive way of packaging battery cells, called cell-to-pack.
Eliminates the middle step of bundling cells. Tesla is expected to use the technology to help reduce battery weight and cost.
Estimates the size of the global battery market to be $116 billion annually, not including investment in the supply chain.
EV Market Share in Europe is 6.8%;
NYT June 18th Heard on the Street “ Auto Industry has debt problem”; https://www.wsj.com/articles/the-car-industrys-1-1-trillion-debt-problem-11592384319
https://www.wsj.com/articles/the-car-industrys-1-1-trillion-debt-problem-11592384319 “Tesla’s secret batteries aim to rework the math for electric cars and the grid”