EVs are about to get MUCH cheaper for this reason...

EVs are about to get MUCH cheaper for this reason...

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[paulwitzig]

Hello Viking, I have been running my MG4 for six months now, powered solely by rooftop solar panels feeding into a pair of Tesla Powerwall batteries. Home charging is simple, virtually effortless, and our motoring is free!
Keep spreading the word!
Thanks, Paul

[pixelbart]

The way LFP is passing Lithium Ion reminds me of the CMOS vs CCD sensor technology wars in digital photography. In the early days, CMOS sensors were mainly used in low-quality webcam-like cameras, while CCD was the king of professional photography. Then Canon started to invest a lot in CMOS technology to overcome all the drawbacks and then they included them in their professional cameras. Fast forward to today and (almost) every camera uses CMOS sensors.

The same goes for LFP. Not too long ago it wasn't really suitable for 'real' cars, then it was a low-cost (low capacity, low power) option, and now it's becoming the dominant technology.

There are no doubt other industries where similar developments happened.

[TheLDunn]

500, 000 vehs from a factory has been considered close to optimal for decades, even for ICE’s. This is one reason why we see companies doing joint ventures to build 500, 000 units in one plant and then put different badges on them for the different manufacturers in the joint venture. Individually, neither company feel that they can sell 500, 000 of a particular model, but together, they feel they can, and the economies of scale make it more efficient & cheaper to do it this way.

[stumckhall]

Gday mate! This is great news! Let’s hope residential solar battery packs fall significantly soon

[markklinger]

Another factor is battery production is outstripping demand

[ferfromla]

This is good news. From what I have been reading, not only have batteries come down in price, but EV makers are figuring out how to scale down parts, weight and labor to reduce costs further. Taken together this should mean better and more affordable EVs. Thus, going forward, we will see a time when EVs are cheaper than any ICE vehicle or hybrid. When that happens it will be impractical to buy anything else. The drop in battery prices is a key step in the transition that accelerates the disruption, but there is more to come.

[frederickreinking]

Add to this, the competition and the economies of scale!

[johnsmedley]

Fascinating video as always! I think the main thing here is batteries in shipping sized containers, it doesn't really matter what technology is in them . Shipping containers are easily transported, and can be deployed anywhere quickly and if you need more storage just order more. Not so sure about the 900k range though, that's just willy waving from the manufacturers. My present car tells me to take a break after 160 k of driving on uk roads.

[ianskeet]

A 13kWh Tesla Powerwall is £7500 installed in 2024. Mine installed in 2019 was £7500. Inflation has been approx 20% so it is cheaper but prices have not fallen nearly as much as they should for home battery packs/cars. Seems to be quite a wait for users to feel a drop.

[willeisinga]

Thank You Sam. From Groningen Nederland. We have Nothing like you in Nederland. Wish we had. Your a Genius.❤👍

[philborer]

I started my home solar install approval process with Xcel energy in February of 24 and today I finally got the go ahead. It was the worst, most inefficient process I have ever encountered. I lost 3 sun producing months because of their user unfriendly program and lack of communication! It was extremely maddening!
So I know what you're talking about.

[ElMistroFeroz]

Paid $3200 for 10kWh LFP storage 3 years ago, and that was the cheapest possible. Now I can get the same for $1250. 8 years ago it would’ve been around $7000.
Consider inflation on top.

[henrybrett]

If it is true what do you say, I love it. I have said to friends last : Prices of batteries will go down in the next 5 years by 80-90%. But I have started with prices, which were much higher.
The speed of price reduction in the industries of batteries is incredible . Forget about Gaspower plants . Use wind and / or solarparcs with batteries, it will be cheaper.

[ep]

Prices still seem to be remarkably high in the UK.

[Joe]

You guys throwing shade at the viking, so when I bought my model Y last year my wife was like 100% against it so decided to buy it for myself and get her a gas car but after she drove it for just a few days l think she changed her mind so much now she loves the car and I got stuck driving my old gas car to the train station 😂
It cost us next to nothing to charge the Tesla we found lots of places, the library, city sponsored places where we can charge for free near our house.

[abzulooks]

Well in Australia we don't have a car industry so there's no reason for tariffs- there's nothing to protect.

[antonnym]

Nice and very current coverage! Thanks!

[RB-yjng]

Everyone betting against EVs is essentially betting against the advancement of technology. CD players started at around $1k in the mid-80s' and now most people stream unless you're an extreme audiophile.

[gowanduff]

Thanks Sam. Great illustration of a falling price boom, as volume increases unit fixed cost declines. In NZ prices for MG and BYD have declined by 5- 8 K.

[shonlondon]

The deployment of BESS is slower than the supply. So the price keep going down. And there is a glut of materials