Cost of electric car batteries plummeting in price

The cost of electric car batteries, seen as a major hurdle for the EV market, has plummeted in recent times. This is one of the main reasons why Tesla was able to release its “affordable” electric vehicle and why many other automobile companies are now seriously re-evaluating their electric car exposure.

When you also take into account the fact that “spent” electric vehicle batteries could have a second life as devices to store electricity this could be a win-win situation. Any second life value afforded to electric car batteries would allow manufacturers to bring down the cost of EVs even further making the price of electric cars even more affordable.