EnergyWatch

Ford CEO expects no imminent drop in Li-ion battery costs

The cost of electric vehicle batteries won’t drop any time soon, says Ford’s CEO after the company just raised the price of an electric model.

In the past year, prices on materials for producing electric vehicle (EV) batteries have exploded, and US car manufacturer Ford’s Chief Executive Jim Farley expects them to keep rising for a while yet, reports US media CNBC.

”I don’t think there’s going to be much relief on lithium, cobalt and nickel anytime soon,” he says.

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