It’s all about those batteries, ’bout those batteries, ’bout those batteries. The electric car market is influenced by aesthetics, aerodynamics, tech efficiency, semi-autonomous and infotainment features, and more. However, it seems no single element is more important than the batteries.
Tesla is in talks with battery producer CATL to supply lithium-iron-phosphate (LFP) cells for the Shanghai-made Tesla Model 3, according to a report by Reuters.
Bloomberg New Energy Finance (BNEF) has released the results of its 2019 Battery Price Survey, finding that industry-weighted average battery pack prices have already fallen to $156 per kWh. This is over 13% lower than the 2018 average ($180/kWh, when adjusted for inflation), and BNEF foresees cost reductions continuing, with $100/kWh potentially being reached by 2023. Let’s dive in.
