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Electric Cars Need Cheaper Batteries Before Taking Over the Road

Nov. 28, 2017, 9:23 PM

Battery prices need to drop by more than half before electric vehicles will be competitive with cars powered by internal-combustion engines, according to Bloomberg New Energy Finance, whose two-day Future of Energy summit in Shanghai concludes on Nov. 29.

That’s likely to happen by 2026, when the cost for lithium-ion battery packs is projected to fall to about $100 per kilowatt hour, speakers at the summit said.

The Tech Race

The focus of the industry has moved from lithium-ion batteries using liquid electrolytes to solid-state ones, which address the need for safer and more powerful energy storage. Toyota Motor ...