Why Are EV Batteries So Expensive?
By Adrian Castillo
If you’re the proud owner of an electric vehicle, you know how many outstanding benefits you get out of it. From the spectacular fuel economy and savings on gas to the feeling that you’re contributing to the industry’s move toward smarter and greener technology, driving one of these cars is great. However, you may notice that when the time comes for you to invest in a new EV battery, it can be an expensive investment. But why exactly are EV batteries so expensive? Let us break it down for you.
EV Batteries Are Costly to Produce
The main reason EV batteries are so expensive is because the materials they’re made with are expensive. Electric vehicles use lithium-ion batteries, similar to those you would find in your laptop or cell phone, but they’re obviously much bigger so that they can provide far more energy to your car. Each cell has an electrode called a cathode, which is the priciest part of the battery. To pack more energy, cathodes need expensive materials like cobalt, lithium, and manganese. So, the cost to produce an EV battery is high, which means they’re sold for even more.
As expensive as EV batteries are, pricing has come down a significant amount over the years. And in the coming years, it’s possible that the cost continues to drop. Manufacturers are finding cheaper ways to produce energy within EV batteries, which will help them become less expensive. For example, nickel is being used to replace cobalt because it’s both cheaper and it holds more energy. Continued innovation within the industry can help lower the prices of these batteries.
Find Affordable EV Batteries From a Trusted Team of Professionals
If the time has come for you to invest in a hybrid battery replacement and you’re looking for an option that won’t break the bank, turn to Bumblebee Batteries. Our new hybrid batteries (BeeMax) are similar to those you would find on the market from original manufacturers, while our rebuilt batteries (BeeLine)—composed of working cells from old batteries—are an even more cost-effective option to consider. We offer options for all of the most popular makes and models, plus we offer top-of-the-line mobile installation services.
For more information about EV batteries and to learn about the options we have to offer at Bumblebee Batteries, contact us today.