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1 The lithium-ion batteries used to power electric vehicles are going to be a lot cheaper by 2017, says a new report from Pike Research. Better manufacturing efficiencies and the availability of more lithium means battery prices will drop by a third – a change car manufacturers and buyers alike will certainly be glad to see.
The cleantech market intelligence company says the market for Li-ion batteries will jump from $2 billion annually in 2011 to $14.6 billion by 2017.
"The market for Li-ion batteries will be driven primarily by plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs), which require much larger battery packs than hybrids," said research director John Gartner. "Reducing the installed price of EV batteries to $523 per kilowatt hour in 2017 will be a critical step towards making PEVs cost-competitive with petroleum-powered vehicles." 1 More on EV batteries ... A cheaper EV battery - and a 300-mile range EV? 6 truths about EVs that turn out to be false (utilities take note)
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