UPDATE 1Obama says electric car battery prices to tumble Reuters | Electric Cars and Hybrid Vehicle - Green energy

UPDATE 1Obama says electric car battery prices to tumble Reuters

27 мая 2014 | Author: | Комментарии к записи UPDATE 1Obama says electric car battery prices to tumble Reuters отключены
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Related Topics

* Obama price of EV batteries down by 70


* White House price more aggressive than

* LG Chem sees pricing 50 percent by 2015

HOLLAND, July 15 (Reuters) — The of the high-powered batteries needed for a wave of electric cars is to drop by as much as 70 percent the next five years, to a U.S. government forecast.

The was released as President Barack attended a groundbreaking ceremony for a plant being built in Michigan by a U.S. unit of Korea’s LG Chem( 051910.KS ) and by the U.S. Department of Energy.

The Obama administration has provided than $5 billion in grants and loans to battery manufacturers and companies to support projects to spur the development and sale of electric cars and plug-in

But the high cost of the lithium-ion to power those vehicles has seen as one of the biggest barriers to widespread adoption.

The U.S. had never set a target for the kinds of reductions it expected to see in the fast-developing it is attempting to jump-start with funding.

Because of advances in the manufacture of batteries, their costs are to come down by nearly 70 in the next few years. That’s to make electric and hybrid and trucks more affordable for Americans, Obama told an of politicians, business leaders and of the 300 workers building the new plant.

The price declines projected by the administration, which has set a target of 1 million plug-in hybrids on the by 2015, run deeper and faster most forecasts by outside

LG Chem Chief Executive Kim told Reuters his company a 50 percent drop in battery by 2015, and he expected that be enough to drive increased

In the next five years we see the in half. Our target is half, Kim on the sidelines of the Holland, Michigan

In the terms tracked by the emerging vehicle industry, the Department of said it expected battery per kilowatt hour to drop about $1,000 in 2009 to in 2015 and $100 in 2030.

U.S. automakers have set a target of reducing costs on basis to near $250, a that would be in line the cost to produce batteries for and cell phones.

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The lithium-ion that powers Tesla Inc’s ( TSLA.O ) $109,000 cost more than according to the Department of Energy

The smaller battery LG Chem is for the upcoming Chevrolet Volt General Motors [GM.UL] $13,000 last year but drop to $4,000 by 2015, the said.

Both GM and Tesla received Energy Department

LG Chem’s Compact Power has won deals to supply batteries for the Volt and the upcoming all-electric of the Ford Motor Co ( F.N ) Focus.

It that it had also been to supply batteries for hybrid which Eaton Corp ( ) is developing for commercial trucks and

Compact Power’s Holland will have the capacity to batteries for up to 250,000 electric once completed and will 400 workers, the company said.

LG and the U.S. Department of Energy the costs of building the $303 plant. The Korean chemical and maker invested $151.5 and $151.4 million came a U.S. government grant.

House economists estimate the United States accounted for 2 of global production of batteries for cars and hybrids in 2009. share is expected to rise to 40 of global production by 2015. by Bernie Woodall, writing by Krolicki, editing by Leslie

BAIC E150 EV Electric Cars
BAIC E150 EV Electric Cars
BAIC E150 EV Electric Cars
BAIC E150 EV Electric Cars
BAIC E150 EV Electric Cars
BAIC E150 EV Electric Cars
BAIC E150 EV Electric Cars
BAIC E150 EV Electric Cars

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