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Publication

Electric vehicles: Battery trends and future economics

Hill, Joseph
Abstract
A common question coming from many automobile companies is how current electric battery trends and changes will benefit the future of the electric car industry. Since the inception of Tesla and their Model 3 luxury EV, the industry has seen a sudden shift in the willingness of the population to invest in electric vehicles. Through generous subsidies given by governments around the globe to an increased importance placed on cleaner energy, there has been a very visible change in the perception of Electric Vehicles, corresponding with an increase in sales and Research and Development by automobile companies. If the EV trend is to continue, there will need to be a decrease in cost so that more of the population can afford these generally high-priced automobiles.
This document will present the best way to mitigate EV costs; by creating cheaper batteries. Batteries have long been expensive to create, and the infrastructure of the world has not done any favors towards the thought of using electric vehicles over the stable yet unspectacular gasoline-based ones. Current trends see Government's adding more super-charge stations at various, convenient locations, which could make using EV's all the more viable. Should EV prices decrease, we could see an economy, a continent, and eventually a world switch towards using electricity over gasoline.
Date
2020-05-01