Electric vehicle battery costs falling

The U.S. Department of Energy has predicted the cost of an electric vehicle (EV) battery will drop to US$10,000 by 2015 against a backdrop of rising EV sales.

The cost of an EV battery has already reduced by almost half over four years, according to DoE figures.

In its latest figures for U.S. EV sales, the department reported almost 9,000 sales in June alone as figures for the first half of the year doubled from the same period in 2012.

January to June saw 40,000 EV sales, with plug-in vehicles leading the charge.

The department says its national eGallon price – the cost of electricity needed to power an EV over the same distance as similary sized conventional vehicles – has risen by $0.04 but, at $1.18, is still around two thirds cheaper than gasoline, at an average cost of $3.49/gallon.