{"id":1153210,"date":"2019-12-03T15:07:18","date_gmt":"2019-12-03T21:07:18","guid":{"rendered":"https:\/\/www.mining.com\/?p=1008300"},"modified":"2019-12-03T15:07:18","modified_gmt":"2019-12-03T21:07:18","slug":"tipping-point-for-electric-cars-still-four-years-away-report","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1153210","title":{"rendered":"Tipping point for electric cars still four years away \u2013 report"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2014\/05\/Mercedes-Benz-lifts-dump-truck-600.jpg\" alt=\"Tipping point for electric cars still four years away \u2013 report\" class=\"wp-image-781085\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2014\/05\/Mercedes-Benz-lifts-dump-truck-600.jpg 600w, https:\/\/www.mining.com\/wp-content\/uploads\/2014\/05\/Mercedes-Benz-lifts-dump-truck-600-300x224.jpg 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2014\/05\/Mercedes-Benz-lifts-dump-truck-600-550x411.jpg 550w, https:\/\/www.mining.com\/wp-content\/uploads\/2014\/05\/Mercedes-Benz-lifts-dump-truck-600-250x187.jpg 250w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption>Diesel and dust<\/figcaption><\/figure>\n<\/div>\n<p>A report released at an industry gathering in Shanghai on Tuesday shows significant cost reductions for batteries used in electric vehicles, but cost parity with internal combustion engines are still years away.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>According to BloombergNEF lithium-ion battery prices were priced above  above $1,100 per kilowatt-hour in 2010, but have now fallen to just $156\/kWh. That&#8217;s a 87% reduction in real terms achieved not just through volume growth in the EV market but also through continued penetration of high energy density cathodes. <\/p>\n<p>According to the new energy research firm by 2023, average prices will be close to $100\/kWh, considered by many to be price point at which electric vehicles reach parity with gas and diesel-powered vehicles. However, prices vary  depending on which markets and vehicle segment.<\/p>\n<p>James Frith, BNEF\u2019s senior energy storage analyst and author of the report, said further cost reductions by battery manufacturers would be achieved through reduced manufacturing capex, new battery pack designs and changing supply chains: <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cAccording to our forecasts, by 2030 the battery market will be worth $116 billion annually, and this doesn\u2019t include investment in the supply chain. However, as cell and pack prices are falling, purchasers will get more value for their money than they do today.\u201d<\/p>\n<\/blockquote>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2019\/12\/bloombergnef-battery-prices-EV-industry-size-NOV-2019.jpeg\" alt=\"Tipping point for electric cars still four years away \u2013 report\" class=\"wp-image-1008339\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2019\/12\/bloombergnef-battery-prices-EV-industry-size-NOV-2019.jpeg 960w, https:\/\/www.mining.com\/wp-content\/uploads\/2019\/12\/bloombergnef-battery-prices-EV-industry-size-NOV-2019-300x148.jpeg 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2019\/12\/bloombergnef-battery-prices-EV-industry-size-NOV-2019-768x380.jpeg 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><figcaption>Source: BloombergNEF<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Price of lithium-ion batteries used in EVs has dropped 87% since 2010, but reaching price-parity with internal combustion engines has ways to go.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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