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Electric Vehicle Battery Prices To Drop Upto 70 % by 2025

According to a study, about 70% drop in cost on Electric-vehicle batteries might happen by 2025. This drop in it’s could would be due to the increase in production of electric powered vehicles. We all know that the rising oil prices and stringent fuel economy standards is pushing automaker of these type of vehicles to product more of their cars.

Mahindra Reva - Electric Car

Mahindra Reva – Electric Car

Electric powered vehicle are very economic today with the cost of oil constantly in a high mark. According to McKinsey and Co study, the large production of these vehicles would represent about one third of the price reduction that would happen by 2025.

The increase in the number of companies that are making out most of this market segment is also one of the reasons for its deteriorating cost. The study also added that with these cheaper batteries there will be more people who will adapt this type of cars that would surely affect the transportation industry.

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