Manufacturers are attempting to tackle this cost challenge by increasing production volumes, improving efficiencies in production processes, and finding other suitable applications for these batteries to improve economies of scale.
Manufacturers are striving to establish standards as each battery company is hoping to identify the ideal battery chemistry and configuration. The lack of standards complicates the logistics and practicality of both battery swapping and second-life applications. Consumers also expect Li-ion batteries to provide superior vehicle performance, reliability, durability and range.
"EV and EV battery manufacturers will do well to educate their target audience about the total cost of ownership, performance and reliability advantages of EVs over their ICE-driven counter parts," noted Dean. "Meanwhile, they will continue to sign partnerships and joint ventures to facilitate sharing of resources, cost and risk mitigation, and the fostering of a cohesive technological environment guided by a single vision."
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