U.S. DOE Announces $45 Million to Develop More Efficient EV Batteries

The U.S. Department of Energy (DOE) just announced it is allocating up to $45 million to improve electric vehicle (EV) batteries.

In President Biden's continued push to accelerate the nation's transition to clean, electrified transportation, this funding is pivotal to developing more affordable, convenient, efficient and resilient batteries.

“Advanced batteries are the heartbeat of the electric vehicle industry and investments to make them charge faster and last longer will be critical to accelerate the deployment of electric cars and trucks,” confirms U.S. Secretary of Energy Jennifer Granholm. “The benefits of an electrified transportation sector in America will be felt for generations to come—from directly combatting climate change to growing domestic manufacturing jobs and strengthening our overall energy independence.”

This federal initiative is being carried out through a brand-new DOE program called Electric Vehicles for American Low-Carbon Living (EVs4ALL). Read this press release for more details: https://bit.ly/3OUnh3V

Plug In America's Joel Levin Weighs in on Future of Battery-Powered Vehicles

"And then the world starts to get interesting."

Joel Levin, executive director of Plug In America, made this candid statement in a recent interview with Utility Dive: Energy and Utility News. He believes the continuing decline in battery costs for electric vehicles (EVs) will soon dispel range anxiety concerns and allow EVs to become a practical and desirable frontrunner in the automobile industry.

Over the last decade, EV battery costs have fallen from $1,183/kWh to $135/kWh, dropping about 15% annually as batteries were manufactured to be smaller, more powerful and dense. This month, a historic milestone was achieved when a battery for electric buses in China dropped under $100/kWh. In the U.S., government and industry experts speculate that costs for passenger EVs could drop to $80/kWh by 2030—or sooner.

Read on to see how declining battery costs are key to speeding the adoption of EVs: http://ow.ly/BbQJ50CP6BR