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Electric vehicle battery costs falling

Electric vehicle battery costs falling

In 2009, the U.S. had just two factories manufacturing advanced vehicle batteries for advanced technology vehicles such as electric cars and produced less than 2% of the world’s advanced batteries. By 2015, the U.S. will be able to produce enough batteries and components to support 500,000 plug-in and hybrid vehicles and will have the capacity to make 40% of the world’s advanced batteries. The increase comes in large part from measures in The Recovery Act, which included $2.4 billion for battery and electric drive component manufacturing and infrastructure. So says the report, U.S. DOE Vehicle Technologies Program; Blueprint for a Secure Energy Future. It also says because of these investments, battery costs are expected to drop by half between 2009 and 2013.

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