Electric Vehicles Could Soon Be Cheaper than Conventional Cars

Although Americans aren’t jumping to buy electric vehicles(EVs), it looks like this time the investment in them will stick.

This week, Department of Energy Secretary Steven Chu gave a speech at the Detroit Auto Show about the progress being made on bringing down the costs of batteries – the biggest cost for EVs.

He expects the cost for electric car batteries to drop 70% by 2015, down from a whopping $12,000 in 2008 to $3500 by 2015 and $1500 by 2020.

Chu also sees breakthroughs coming in the batteries themselves, moving beyond lithium-ion to lithium-air, lithium-sulfur and various versions of metal-air.

DOE’s new Energy Innovation Hub opens later this year, through which scientists, engineers and business experts will strive to develop more advanced, fast-charging, longer lasting batteries.

The Obama Administration’s proposed fuel economy standards are essential to the success of EVs. It’s those requirements to raise fuel economy that are behind auto manufacture efforts to produce the vehicles.

The first hearing on the 54.5 mile standards takes place today in Detroit, followed by Philadelphia (January 19) and San Francisco (January 24). 

93% of the public supports the standards. 13 automakers and dealers support the standards, as well as labor unions. The National Automobile Dealers Association (NADA) opposes them however, along with some House Republicans.

We encourage you to submit a comment in support of the standards here: