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Study: Reducing Li-ion Battery Costs is Key to Future of Electric Vehicle Market

3:20 AM MDT | March 28, 2012 | Sotirios Frantzanas

Lux Research (Boston, MA), a market research group, states in a new report dubbed 'Searching for Innovations to Cut Li-ion Battery Costs' that the key to growing the market for electric vehicles is a reduction in the cost of lithium-ion (Li-ion) batteries. Large-scale production, and likely technological improvements are expected to reduce nominal battery pack cost to $397/kWh in 2020, which is far from the target of $150/kWh set by the U.S. Advanced Battery Consortium (USABC), and not enough to reach the mass market, Lux Research...

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