Welcome to the Hyperdrive daily briefing, decoding the revolution reshaping the auto world, from EVs to self-driving cars and beyond.
News Briefs
- Evergrande’s EV unit loses over $80 billion in market value.
- Toyota is raising objections to proposed tax credits for EVs.
- Stellantis wants to take control of its Jeep venture in China.
Will a Decade of Decline End?
Hi everyone, James Frith here. As part of my work with BloombergNEF, my team and I produce a battery price survey every year. It’s one of the most important pieces of research we carry out, as it feeds into our work on electric vehicles and the electrification of the power grid.
Electric vehicles are generally more expensive than gas vehicles today, mainly because the batteries they use are expensive. This is why a lot of governments offer subsidies to help make EVs more affordable. Once battery prices come down, EVs should cost the same, or less, than gas vehicles. Governments can then stop offering subsidies and EV growth should take off naturally. Tracking battery prices helps us to understand when we'll reach these inflection points with EVs, and similarly helps us understand the growth of the stationary energy storage sector.
Here’s what the early research this year is showing: For the first time since BloombergNEF started its battery price survey back in 2012 — when Toyota was still confident fuel cell vehicles were the future and Elon Musk was yet to be well-acquainted with the Securities and Exchange...
Read Full Story: https://www.bloomberg.com/news/newsletters/2021-09-14/ev-battery-prices-risk-reversing-downward-trend-as-metals-surge
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