Why an electric car battery is so expensive, for now

A Stuff article.

At Tesla Inc.’s ballyhooed Battery Day event in 2020, CEO Elon Musk set himself an ambitious target: to produce a US$25,000 electric vehicle in three years. Hitting that sticker price — about US$15,000 cheaper than the company’s least expensive model today — is seen as critical to delivering a truly mass-market product. Getting there means finding new savings on technology — most critically in the batteries that make up a big part of an EV’s cost — without compromising safety. Alongside Musk, traditional automaking giants including Toyota Motor Co. and Volkswagen AG are pouring tens of billions of dollars into the race.

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