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Ahead of Washington Auto Show, New Study Finds That High Cost of Batteries Will Limit Widespread Adoption of Electric Cars Over the Next Decade
January 25, 2010As policy makers, automotive industry officials, and media converge on the 2010 Washington Auto Show this week, they will be presented with an array of sleek electric cars -- both concepts and production models. But amid all the buzz about fuel efficiency and environmental friendliness, decision makers should bear in mind two issues that will curb demand for these innovative vehicles: the cost and technological limitations of their batteries. Although electric vehicle (EV) battery costs are expected to fall sharply over the coming decade, they are unlikely to drop enough to spark widespread adoption of fully electric vehicles without a major breakthrough in battery technology, according to a study by The Boston Consulting Group (BCG). The study, released earlier this month, concludes that the long-term cost target used by many carmakers in planning their future fleets of electric cars—$250 per kilowatt-hour (kWh)—is unlikely to be achieved unless there is a major breakthrough in battery chemistry that substantially increases the energy a battery can store without significantly increasing the cost of either battery materials or the manufacturing process. Full release.