Ford's first all-electric vehicle will be released in 2020, and company executives have said the model will be mass-produced and affordable. To increase the uptake of electric vehicles (EVs), the automaker will "have to make sure we make the affordability targets or otherwise they are going to stay as a niche item or a pure luxury item,” said CTO Raj Nair. The company has also promised that its EV will be able to drive 300 plus miles on a single charge. EVs could be cheaper than internal combustion engine by 2030 As battery-manufacturing facilities arrive in Europe, EVs could be cheaper than their internal combustion engine counterparts by 2030, said Bloomberg New Energy Finance analyst Nikolaos Soulopoulos. Large-scale battery-making facilities are planned in Poland, Hungary and Germany to meet demand from major European automakers, including Renault and Volkswagen. Worldwide battery-making capacity is set to more than double from 103 GWh today to 278 GWh by 2021, BNEF said. The increase in capacity will continue to drive down costs for batteries, which make up 40% of the cost of EVs. Prices will fall by 43% by 2021, from $273/kWh today to around $156/kWh, he said.
Ford's first all-electric vehicle will be released in 2020, and company executives have said the model will be mass-produced and affordable. To increase the uptake of electric vehicles (EVs), the automaker will "have to make sure we make the affordability targets or otherwise they are going to stay as a niche item or a pure luxury item,” said CTO Raj Nair. The company has also promised that its EV will be able to drive some 300 miles on a single charge. EVs could be cheaper than internal combustion engine by 2030 As battery-manufacturing facilities arrive in Europe, EVs could be cheaper than their internal combustion engine counterparts by 2030, said Bloomberg New Energy Finance analyst Nikolaos Soulopoulos. Large-scale battery-making facilities are planned in Poland, Hungary and Germany to meet demand from major European automakers, including Renault and Volkswagen. Worldwide battery-making capacity is set to more than double from 103 GWh today to 278 GWh by 2021, BNEF said. The increase in capacity will continue to drive down costs for batteries, which make up 40% of the cost of EVs. Prices will fall by 43% by 2021, from $273/kWh today to around $156/kWh, he said.