The price has been coming down because the scale of production has been going up, the supply chains have been developing, and because they are being designed to be cheaper instead of being luxury toys for early adopters. Hell, there are engineering teams who are working exclusively on ways to lower the production costs.
And the R&D has not stopped. Billions are being poured into battery technology because everyone wants to be the one that gets the next big breakthrough. We’re not just talking about lab work either, manufacturing processes are being developed and refined to bring new technologies to market. None of that is stopping, especially since improvements in battery technology have applications far beyond EVs.
The price has been coming down because the scale of production has been going up, the supply chains have been developing, and because they are being designed to be cheaper instead of being luxury toys for early adopters. Hell, there are engineering teams who are working exclusively on ways to lower the production costs.
And the R&D has not stopped. Billions are being poured into battery technology because everyone wants to be the one that gets the next big breakthrough. We’re not just talking about lab work either, manufacturing processes are being developed and refined to bring new technologies to market. None of that is stopping, especially since improvements in battery technology have applications far beyond EVs.