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EV Batteries: What Makes Them So Expensive?

You are currently viewing EV Batteries: What Makes Them So Expensive?
Image by Alexei Chizhov from Pixabay
  • Post category:Blogs

EV batteries are the highest cost component in an electric car or truck. The high-end alternative to fossil fuels comes at a cost.

EV Batteries Use Cobalt

Cobalt is the material that any battery producers uses to line the interior of the battery. The internal components are extremely corrosive. Cobalt is a special metal that, when lining the battery, cuts down on the impact of the corrosive material.

Cobalt is also the most expensive part of a battery.

From your cell-phone to your vape to anything else that utilizes a charge in order to work, their batteries need cobalt. It actually dramatically adds to the overall cost of whatever product is utilizing it.

There are thousands of current uses for cobalt. However, these are no where near the size and scale as a fully electric vehicle.

Tesla Moves To Cut Down Cost

Seeing as cobalt is the most expensive material used in EV batteries, Tesla has been making moves to find cobalt-free alternatives that will help expand their market to the average consumer.

One of these consumer markets is China. The idea would be to give the populace a vehicle that can safely transport a person to wherever they need to go. Also, in order to make more sales, the cost of the vehicle needs to come down. This will make other things, like our car moving service, more affordable for more people.

Currently, the cost of a Tesla Model 3 is around $40,000. The costs are large for even consumer markets in America. Thus, finding a way to lower the cost while maintaining the same safety and performance will be critical if Tesla wants to move into foreign markets.

Chinese Markets Look To Boost Research

With the prospect of potential large sales in China, Tesla has been working continuously with not only its own development team but with Chinese officials to create an effective car for the common people.

China is one of the largest consumer markets in the world. The cost will decrease due to further research on more cost-effective materials.

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