The Future of EV Batteries: Lighter, Greener, and More Cost-Effective

Stellantis CEO Carlos Tavares emphasized the automotive industry's need to slash EV battery weight by half within the next 10 years to amplify their environmental benefits Although an EV battery pack enabling a range of 250 miles currently requires roughly 1,000 pounds more in raw materials than a traditional internal-combustion engine, lifecycle emission studies suggest that EVs in the U.S reach emissions breakeven in just one to two years, with Europe achieving this even sooner. The battery pack size and the cell type are pivotal factors affecting ecological footprints Amidst these discussions, Goldman Sachs forecasts a 40% reduction in EV battery costs from 2023 to 2025, potentially bringing EVs on par with the cost of internal-combustion counterparts.