11 Jan 2023
Even though batteries make up a large portion of the cost of electric vehicles, cheaper options are on the way. New battery technologies and manufacturing processes are being developed that could reduce the cost of batteries by as much as 50%.
This is good news for those who want to switch to electric vehicles, but it's also good news for the environment. Electric vehicles have far lower emissions than traditional petrol or diesel cars, so as they become more affordable, we can expect to see a significant decrease in emissions from road transport.
The falling cost of batteries is also likely to boost the uptake of electric vehicles in developing countries, where air pollution is a major problem. In China, for example, electric vehicles are already becoming popular as a way to reduce air pollution.
With the cost of batteries falling, there's no excuse not to switch to an electric vehicle. Not only will you be doing your bit for the environment, you'll also be saving money in the long run.