Posted on 10/20/2023 10:10:05 PM PDT by SeekAndFind
The cost of an electric vehicle (EV) battery pack can vary depending on composition and chemistry.
In this graphic, Visual Capitalist's Bruno Venditti and Sabrina Lam use data from Benchmark Minerals Intelligence to showcase the different costs of battery cells on popular electric vehicles.
Some EV owners are taken by surprise when they discover the cost of replacing their batteries.
Depending on the brand and model of the vehicle, the cost of a new lithium-ion battery pack might be as high as $25,000:
The price of an EV battery pack can be shaped by various factors such as raw material costs, production expenses, packaging complexities, and supply chain stability. One of the main factors is chemical composition.
Graphite is the standard material used for the anodes in most lithium-ion batteries.
However, it is the mineral composition of the cathode that usually changes. It includes lithium and other minerals such as nickel, manganese, cobalt, or iron. This specific composition is pivotal in establishing the battery’s capacity, power, safety, lifespan, cost, and overall performance.
Lithium nickel cobalt aluminum oxide (NCA) battery cells have an average price of $120.3 per kilowatt-hour (kWh), while lithium nickel cobalt manganese oxide (NCM) has a slightly lower price point at $112.7 per kWh. Both contain significant nickel proportions, increasing the battery’s energy density and allowing for longer range.
At a lower cost are lithium iron phosphate (LFP) batteries, which are cheaper to make than cobalt and nickel-based variants. LFP battery cells have an average price of $98.5 per kWh. However, they offer less specific energy and are more suitable for standard- or short-range EVs.
In 2021, the battery market was dominated by NCM batteries, with 58% of the market share, followed by LFP and NCA, holding 21% each.
Looking ahead to 2026, the market share of LFP is predicted to nearly double, reaching 38%.
NCM is anticipated to constitute 45% of the market and NCA is expected to decline to 7%.
If you need to ask, you can’t afford it.
COST to manufacture?
Or PRICE to the consumer?
Big difference there. Are the EV vehicle makers gouging?
no doubt the cost is part of the reason for the following!
19 Oct: Business Insider: Most Americans still don’t want an electric car — and many EV buyers end up going back to gas
by Tim Levin
Most Americans don’t intend to buy an electric car in the near future, according to a new study.
People who do spring for an EV often buy a gas car as their next purchase, per another study...
In a recent poll conducted by Yahoo Finance and Ipsos, 57% of respondents said they were not likely to choose an EV when they buy their next car. (For the purposes of the study, EVs included fully electric cars and plug-in hybrids, which have a larger battery and more electric range than traditional hybrids.)
Of that majority, 36% said they were “not at all likely” to go electric, while 21% said they were “not too likely.”...
The biggest factors turning potential buyers off from EVs are the same worries that consistently pop up in these kinds of surveys: High vehicle cost, limited driving range, and insufficient charging infrastructure...
https://www.businessinsider.com/most-americans-dont-want-an-electric-car-2023-10
19 Oct: Drive.com: Study finds up to half of all electric-car owners considering a switch back to petrol power
by Ben Zachariah
According to a US study from S&P Global Mobility, first reported on by website Electrek, three-quarters of electric vehicle owners say that would buy another battery-powered car – but that number falls to about half once Tesla owners are removed from the statistics...
https://www.drive.com.au/news/study-finds-some-electric-car-owners-considering-a-switch-back-to-petrol-power/
Well said.
I wouldn’t be caught dead in an EV!
Regards,
I only drive golf carts on the golf course.
I only drive golf carts on the golf course.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Due to creeping decrepit condition of this old body, I now drive a golf cart in the supermarket.
I did the Ecar test (Audi Etron) back right before Covid. Nice vehicle. At the end, I had two questions....what the total cost was for change-out and disposal (old battery). Dealer could state the battery cost and change-out (was supposed to require around 6 hours of mechanic time, from beginning to end). But on disposal...he couldn’t say because they had yet to reach one single situation where a change-out was required.
Then I asked if the customer himself could do the battery-swap-out....’no’ was the answer....if you wanted the warranty to continue.
For these reasons, and the continuing saga of the cost for electricity...I said ‘no’. I’ll refuse to ever buy one.
You can buy entire gas powered cars for less then the cost of a battery for an electric car that costs far more and has lousy range and takes forever to charge at high cost and is a major fire hazard and has no resale value.
Considering the weight of an EV battery, I don't see how anyone could do it themself. From what I read, the average weight is around 1,000 lbs. with a Tesla battery weighing up to 1,836 lbs.
They cost vastly more than they’re worth. Virtue signaling fools and just plain fools buy EVs despite the fact that they’re inferior technology compared to ICE vehicles.
What is the additional cost of disposing and/or recycling the battery?
Doesn’t look like recycling is an option, at least not in the UK yet...
“Has no resale value” says it all to me.
Insurance picks up the battery-exchange cost for EV fender-benders and spreads the expense/FRAUD to the rest of us!
It’s good to know how long they last too.
More expensive than replacing a transmission yet doesn’t last as long as that I believe.
can you buy refurbished batteries?
can they be recycled?
EVs are an evil scam designed to limit our freedoms to travel which makes it much easier for them to control us.
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