Long considered one of the least interesting car components, batteries may now be one of the most exciting parts of the auto industry. Car manufacturing hasn’t fundamentally changed in 50 years and is barely profitable, but the battery industry is still ripe for innovation. But to many people in the battery industry, the company was stating the obvious. The European Union is subsidising battery production to avoid becoming dependent on Asian suppliers and to preserve auto industry jobs. Electric car batteries for a midsize vehicle cost about $15,000, or roughly double the price they need to be for electric cars to achieve mass acceptance, Srinivasan said.

Source: bd News24 February 16, 2021 18:50 UTC