Japanese automakers have been subject to constant criticism for their inability to embrace electric vehicles. Yet, despite the criticism however, the Japanese do not give up.
In a recent interview on the Drive Honda’s vice president of Business and Sales for America, Dave Gardner, said that lithium-ion battery-powered EVs aren’t as affordable or cheap as conventional vehicles powered by fuel due to their expensive development process.
We at Honda don’t believe that the lithium-ion technology is the best long-term solution. Solid-State batteries will change the game for us.
He also said that the use of solid-state batteries could allow the lowering of the cost of the entry-level EVs. But even these EVs are likely to cost “in the range of what a good internal combustion engine vehicle is priced.”
The Honda CEO also noted that the process of making solid-state batteries practical is likely to take many years. He also said that Honda has committed $310 million to this effort.
Rising Manufacturing Costs
A recent report by Guardian says that the rising energy costs pose serious threats to the future of EVs around the world. Experts in the field have stated that the increasing energy cost as well as the high cost of raw materials and a serious value chain problem, and the widespread decrease in income disposable have drastically restricted EV the production process and its sales.
An automotive expert Stefan Bratzel states that the increase in electricity rates requires immediate consideration from automobile manufacturers. He also added:
The price of electricity could be a serious threat to the vehicles and we should be cautious about the situation. If electric vehicles become more costly to purchase The surge in electric mobility could be likely to collapse since hardly anyone is likely to purchase an electric car.
While governments are encouraging car companies as well as the general public to adopt EVs however, the increasing energy prices completely negate these advantages, preventing consumers from buying the vehicles.