Will Eletric Cars Become Cheap?

California-based Envia Systems has claimed that they have developed a low cost rechargeable lithium-ion battery which offers a driving range that is nearly twice of today's batteries. The new battery could cut the heavy price of electric cars which has been a barrier for customers in buying them. The newly developed battery is yet to be commercialised though.

Envia CEO Atul Kapadia.said: We increased the energy density to 400 wh/kg [watt-hour per kilogram]. Envia is enabling the [electric car] revolution. Not in the future. Not with some cute technology. But right now.”

Electric cars like Chevy Volt, Nissan Leaf, and Tesla Model S have been out for a while, but couldn't gain good sales due to their hefty price tag. The cars weren't affordable even after incentives provided by certain governments.

Envia co-founder and CTO Sujeet Kumar said: “The number one problem has been the cost. Seventy percent of lithium-ion cell [cost] comes from materials. Overall, 40 percent of the cost is the cathode alone. The cathode is the costliest component. If you want to reduce the cost of the lithium-ion battery, the first thing you want to reduce is the cost of the cathode.”