Suppliers target formation to lower battery costs

A potential rise in global electric vehicle (EV) sales hinges on a number of factors, one of which is the on-going development of batteries. The low market share of EVs is reflective of their high initial costs, of which batteries make up a sizeable part. However, a number of suppliers developing battery technology and manufacturing processes believe that costs could soon fall, which could act as a catalyst for EV sales across the world.