Innovation needed as electric vehicle batteries pack on the pounds

A diet may be in order if automakers are to produce profitable battery electric vehicles, writes Freddie Holmes

Figures vary, but the lithium-ion battery propulsion system can account for as much as half the total cost of an electric vehicle (EV) today.

Special report: What’s the secret to making profitable electric vehicles?

The results should not be surprising: automakers are seeing slim profit margins at best, and retail prices for new EVs are far higher than comparable diesel or gasoline models. Range anxiety and charging convenience aside, this may be the most significant factor that has prevented a universal transition to electric.

If the automotive industry is to reclaim the investments made in battery electric propulsion and reshape the future of mobility, affordable battery solutions must be found sooner rather than later.

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