sunshineprofits.com / ARKADIUSZ SIEROŃ / AUGUST 18, 2017
Everyone has probably heard about the upcoming electric car revolution whose vanguard is Tesla Motors led by Elon Musk. The electric car is actually nothing new – the first vehicles were produced as long ago as in the 1880s. However, the mass production of cheaper gasoline vehicles triggered by Henry Ford put electric cars into limbo for decades. But this can change quickly thanks to the rapidly falling costs.
As one can see in the chart below, the price of a battery pack declined from $1000 per kWh in 2010 to $227 in 2016. The price of a Tesla battery pack is believed to be even lower now, at about $190. When battery pack prices fall below $100 per kWh, which is likely to happen around 2025, the sales of electric vehicles may soar, as such learning curves imply that electric cars will be cheaper to buy than traditional vehicles in most countries.
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