GULF OF MEXICO – APRIL 21: U.S. Coast Guard fire boat response crews battle the blazing remnants of offshore oil rig
The Bloomberg New Energy Finance report that came out last week (press release at bottom) says that in 25 years, electric vehicles will make up just 35% of new car sales. That means that in a generation from now, 65% of people will still be buying petroleum-based cars. It is hard to imagine a world where this few EVs makes any sense, even given BNEF’s own data.
The report and the numbers it presents are much too conservative for any reasonable circumstance. Take its own lede for instance:
“Continuing reductions in battery prices will bring the total cost of ownership of EVs below that for conventional-fuel vehicles by 2025, even with low oil prices.”.
Why would anyone buy a gasoline car when an electric or even a plug-in hybrid costs less than a gas car? Electric cars are cleaner, quieter, faster and safer than equivalent oil cars. Keep in mind that 2040 is 15 years after the cost of an electric car passes parity with oil in their scenario. Furthermore, by Bloomberg’s own estimates, batteries will reach less than one-third of today’s break-even prices.
At the core of this forecast is the work we have done on EV battery prices. Lithium-ion battery costs have already dropped by 65% since 2010, reaching $350 per kWh last year. We expect EV battery costs to be well below $120 per kWh by 2030, and to fall further after that as new chemistries come in.”
During the company’s recent inauguration of its Renningen research campus, head of battery technology R&D Dr. Thorsten Ochs revealed more information about the company’s goals for Seeo’s solid-state battery. The Germany-based part maker is aiming for a 50 kWh pack to weight only 190 kg. expand full story
SolarCity announced today a new project with the Temecula Valley Unified School District to install 6 MW of solar energy capacity and 2.6 MWh of energy storage at a total of 19 schools in the district. The solar installations will mainly consist of carports using the company’s ZS Beam system (see picture above). expand full story
The Artega Scalo joins the long list of all-electric luxury cars being unveiled at the Frankfurt Motor Show this week. The German sports car maker now focuses mostly on “electromobility” in partnership with battery maker Voltabox.
The company says it will achieve a range of 250 miles on a small 37 kWh battery pack. The claim is difficult to believe, but the range is most likely calculated based on the New European Driving Cycle, which allows for longer range than most real-life driving cycles.
Ahead of the Model X launch set for September 29th, Tesla is still tuning the options available for the configuration of its all-electric SUV. Yesterday we wrote about how Tesla will offer hitch accessories directly at the purchase of the Model X in order to get around the limitations of the vehicle’s ‘Falcon Wing’ doors. Today we learn, through the same online design studio for early reservation holders, that Tesla increased by 10 miles the estimated EPA-rated range of the Signature Model X to 250 miles.
Tesla Motors confirmed to Electrek that the company is now installing the Powerwall, a new home energy storage system, for “pilot customers”:
“We are currently in production and have started installing Powerwalls with pilot customers. Over the next few weeks we will continue to ramp up volume production,” Tesla spokeswoman Alexis Georgeson said. expand full story
In a new note issued today, Jefferies analyst Dan Dolev increased his price target on Tesla Motors to $365 following a new analysis on the company’s battery business. When Tesla first announced its “Gigafactory“, it forecasted a ~30% reduction in battery cost through economy of scale and improved chemistry, but since then Tesla executives revealed that 30% might have been conservative and Jefferies seems to agree. expand full story
Ahead of the Model X launch at the end of the month, Tesla is still tuning the options available for the configuration of its all-electric SUV. A roof-rack, which is popular for skiers and cyclists, isn’t an option for the Model X due to the vehicle’s Falcon Wing’ doors. We now learn through the online design studio, which is accessible to a select few reservation holders, that Tesla will be offering hitch accessories directly at the purchase of the Model X in order to get around the limitations.
Thunder Power unveiled at the Frankfurt Motor Show today two new electric vehicles equipped with a massive 125 kWh battery pack.
Thunder Power is a Taiwan-based power-tool maker established in 1987, which recently changed its focus to electric vehicles. Its first entries are a 4-door sedan (picture above), the Thunder Power Sedan, and a sport car, the Thunder Power Race (picture below). expand full story