Over the past few years, EV makers have been touting solid-state batteries as the next breakthrough in EV technology Toyota now officially leads the charge to mass produce solid-state batteries Besides Toyota, GM and Nissan, tech companies like QuantumScape and Samsung are betting big on this type of battery With the global electrification drive in full swing, electric cars have constantly been improving in terms of mileage, performance, charging time–and costs. And, Wright’s law has so far proven to be right. According to Wright’s Law, aka the learning curve effect, lithium-ion (Li-ion) battery cell costs fall by 28% for every cumulative doubling of units produced. The battery pack is the most expensive part of an electric vehicle, and the sticker prices of EVs have been falling along with declining battery costs. By 2023, the cost of Li-ion batteries is expected to fall to around $100/kWh –low enough for EVs […]