This article originally featured in The Skylark’s newsletter and was written as a condensed news in brief.
Electric vehicle battery packs have fallen in price by 87%. In 2010, the average cost for a 100kWh battery (large for an electric car) would have been USD$110,000. Now it’s just over USD$15,000. The drop is thought to be down to improvements in manufacturing, battery chemistry and tighter supply chain control – all of which can be improved further. Considering the primary concern people have when considering to buy an electric vehicle is cost, this downward trend is good news for the market.