U.S. Energy Department Promises Cheaper EV Batteries
February 1, 2013 9:15 AM
comment(s) - last by
jack daniels e..
Chu promises big battery price cuts, but doesn't say how
The Obama administration continues to push electric vehicles despite the fact that they have sold very poorly around the country. There are number of reasons why consumers haven't adopted electric vehicles in larger numbers, the biggest of which are the cost of the vehicles and range anxiety. The component that adds the most cost to EVs is undoubtedly the battery pack.
U.S. Energy Secretary Steven Chu has announced that the federal government is working to dramatically reduce the cost of battery technology for electric vehicles. Cheaper batteries would mean that automakers could [ideally] sell their EVs and hybrid vehicles that utilize rechargeable battery packs at a lower price.
President Obama wants 1 million plug-in electric vehicles and hybrids on highways around the United States by 2015. Currently, the federal government offers a $7,500 tax credit for people who purchase electric vehicles and Obama has been pushing to
increase the tax credit to $10,000
"It's ambitious, but we'll see what happens," said Chu during a talk with reporters during the Washington Auto Show.
"For the engineers in the room or those who follow this, you might be saying to yourself, 'What are they smoking,'" Chu said about aggressive plans to cut the price of batteries. "We're not smoking anything…. They are ambitious goals but they are achievable goals."
The original report from Washington supporting the goal of 1 million plug-in vehicles on the roads by 2015 expected Ford to sell 20,000 Focus EVs in 2012. Ford sold fewer than 700 of the vehicles and has resorted to
significant price cuts to spur demand
. Chevrolet also sold only 24,000 Volts in 2012 while the report had predicted 120,000.
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RE: What does the Federal government have to do with battery prices?
2/1/2013 11:22:19 AM
Don't you know? the Federal Government has the power to subsidize markets into existence! its called stimulus money that magically gets printed whenever they need it.
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