Price of an Electric Car – Percentage Break Up by Component – Batteries, Charger, Motor
Last updated: Feb 2020 by Narasimhan Santhanam
This pos
t is a part of EV Next’s EV Perspectives.
EV Next, a division of EAI, is a leading market intelligence & strategic consulting firm for the Indian e-mobility sector.
Introduction
If we are able to get the prices of electric cars to come down to those of conventional vehicles, there’s little doubt that a much larger portion of the population would buy them. But what’s needed to bring down the electric car cost?
To answer this question, it will be useful to know the cost break-up for an electric car, wouldn’t it?
And that’s precisely what this provides.
Approximate cost decreases expected between 2018 and 2020 are:
- Batteries – 12-15%
- Motors – 15-25%
- Chargers – 15-25%
The table above provides an indication of the way battery prices contribute to overall cost of the electric vehicles. As of 2018, batteries (Li-ion) contribute 40% of the total cost; this is likely to come down as low of 35% of the total cost by 2020. Costs of chargers and motors could decrease a bit too, but the change in cost of batteries matter the most.
As the cost of batteries is the critical component that leads to the high cost of electric vehicles, let’s review estimates of what these costs are likely to be in future.
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See also the related blog posts
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- Prices of Electric Vehicles in India – Cost of Electric Scooter, Cars, Electric Buses – Tata, Mahindra, Hero, Ather, Ashok Leyland
- Sales Trends of Major Indian Electric Vehicle Brands – Hero, TVS, Tata, Mahindra
- Suppliers of EV Components To Tesla, Toyota Prius, Nissan Leaf – Batteries, Motors, Powertrain, BMS
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Author - Narasimhan SanthanamAbout EAI and BioBiz for Bio-CNG
BioBiz for bio-CNG, EAI's specialized consulting division for bio-CNG, provides assistance in market research, strategy consulting, technology vendor/supplier finder assistance and more for the complete bio-CNG value chain – feedstock sourcing, logistics, pre-processing techniques, anaerobic digestion, biogas scrubbing, biogas upgradation, end user markets for bio-CNG and digestate, and more. Send a note to consult@eai.in if you wish to take BioBiz’s assistance for the Indian bio-CNG market.
About EAI & EV Next
EV Next, EAI's specialized consulting division, provides assistance in market research, strategy consulting, technology vendor/supplier finder assistance and more for the complete EV value chain - Li-ion & Lead Acid Battery Cells & Battery Packs, BMS, Battery Manufacturing equipment, EV charging station, battery swapping station, Li-ion & Lead Acid battery recycling, and for a range of electric vehicles - e-bikes, electric bicycles, electric scooters, electric motorbikes, electric autos, e-autos, e-rickshaws, electric trucks, electric LCVs, electric buses and more. Send a note to consult@eai.in if you wish to take EV Next assistance for the Indian electric vehicle market.
