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Saturday, November 23, 2024

Fed: Battery costs slow growth of electric vehicles - Houston Chronicle

Last updated Thursday, December 23, 2021 08:40 ET , Source: NewsService

Despite dramatic drops in price and increases in efficiency in electric vehicle batteries, far more improvements will need to be made for more Americans to be enticed into buying them, according to a new report from the Federal Reserve Bank of Dallas.

Only about 2 percent of cars sold in recent years are electric, according to the Fed, citing consumer concerns about large up-front costs and the limited distance a vehicle can go on a full battery.



Read Full Story: https://www.houstonchronicle.com/business/energy/article/https-www-houstonchronicle-com-business-texas-in-16724775.php

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