At Tesla Inc.¡¯s ballyhooed Battery Day event in September, CEO Elon Musk set himself an ambitious target: to produce a $25,000 electric car in three years. Hitting that sticker price ¡ª about $13,000 cheaper than the least expensive model today ¡ª is seen as critical to deliver a true, mass-market product.
Getting there means finding new savings on technology, most critically the batteries that can make up a third of a vehicle¡¯s cost. Musk says innovations and in-house manufacturing can quickly halve that expense, while most competitors see a slower road to reach price parity with gas guzzlers.
Why are EV batteries so expensive?
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.