Electric vehicles will ‘always be expensive’, claims BMW boss

Assumptions that electric vehicle technology costs would tumble are incorrect, warns senior executive at BMW

Electric vehicles will ‘always be expensive’, claims BMW boss

It has been widely assumed that electric vehicle prices would eventually tumble but a new claim from a senior executive at BMW suggests that they will “always be expensive”, reports News.co.au.

Klaus Frölich said that electric vehicle will “never” equal the prices of equivalent combustion engined cars.

He believes that the cost of batteries will keep the cost of electric cars high as lithium-ion cells that stores the standard 1kWh of energy costs between €100 to €150.

He said: “It’s very simple, In EVs with 90 to 100kWh battery packs, the cell cost alone will be $17,000 to $25,000.

“You can produce whole cars, only with the cost of the battery.

Klaus predicts that battery costs could actually increase over time as the cost of certain metals and materials could drive up prices.

“When everybody wants to have cobalt, the prices of cobalt will not go down, they will go up,” Frölich predicts.

Cobalt is one of the key materials needed to produce lithium-ion battery cells.

Related: Government to cut grants for electric and hybrid cars

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