Average age of Light Vehicles in the US
(Source : www.statista.com)
This is because cars are built better and hence last longer.
Also of late electric cars are gaining popularity - supported by favourable govt. policies and public opinions (to reduce pollution levels)
(Source : www.statista.com)
In an electric car, batteries are its priciest component, representing around 30% of an average mid-size vehicle.
Apart from increasing the risk of running out of juice and leaving a driver stranded, a deteriorating battery quickly destroys a car’s second-hand value.
Producers are now, though, planning to go much further than that, with the launch of “million mile” (1.6m kilometre) batteries.
Elon Musk has hinted that Tesla, has a million-mile battery in the works and this could be unveiled in September.
TESLA Shares are up 75 times since inception
(Source: NASDAQ)
Meanwhile General Motors is in the final stages of developing an advanced battery which it says has similar longevity.
GM will be using different type of cathodes in a new battery, called Ultium, that it has developed in partnership with LG Chemicals, a South Korean firm.
These should provide electric cars with single-charge ranges of 650km or more.
Jeff Dahn, who leads a group of battery researchers at Dalhousie University in Halifax, Canada, who are sponsored by Tesla, points out that autonomous electric vehicles like “robo taxis” could clock up vast mileages by operating around the clock.
If that day comes batteries from being the first part of a car to fail, will probably become its last.
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