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What’s Happening in EV Battery Technology

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From how much they cost and weigh to the amount of power they store and how long they take to charge, electric vehicle (EV) batteries have a significant impact on EVs themselves, the EV industry as a whole, and ultimately EV buyers.

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Battery Advances Over the Next Ten Years

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For example the volumetric energy density of lithium-ion batteries has increased eightfold since 2008, from around 55 watt-hours/litre to 450 watt-hours/litre in 2020. At the same time the cost of lithium-ion battery packs declined 87% between 2008 and 2021. Another chemistry that is coming onstream is sodium ion.

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Promising EV Trends to Lookout For in 2023

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Although the higher upfront costs have long been a barrier to EV adoption, major automakers like Tesla, Chevrolet, Nissan, and Hyundai are also lowering the cost of their current models. Major manufacturers will release new models of heavy-duty trucks and delivery vans. billion in 2021 to $848.94

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