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Honda: Lithium-Ion EV’s Won’t Reach Price Parity With Gasoline Cars

As Honda gears up for its debut Acura EV, the value tag that comes with present battery know-how and souring battery metals prices means that ICE automobiles will preserve the cost-competitive edge for a while, Honda’s VP of gross sales for America advised TheDrive,

Earlier this month, Ford CEO Jim Farley echoed these sentiments, saying that the price of uncooked supplies for the auto big’s EVs would seemingly imply greater and better prices for brand new fashions.

“I do not suppose there’s going to be a lot reduction on lithium, cobalt and nickel anytime quickly,” Farley advised reporters at Ford’s Michigan Meeting Plant, as reported by CNBC,

Chinese language battery-grade lithium carbonate costs have risen 90% for the reason that starting of the yr, in line with Benchmark, whereas cobalt and nickel have really fallen. Lithium hydroxide costs have elevated much more–up 127%. On the similar time, automakers and battery gigafactories are nonetheless scrambling to line up future provide, and provide chain points proceed to hang-out the section.

Honda’s reply to this dilemma is hedging on solid-state batteries, which require no lithium, as the one strategy to obtain eventual worth parity with ICE automobiles.

“We [Honda] do not actually imagine that the present lithium-ion know-how is the long-term resolution.”

Strong-state batteries have greater vitality density than their lithium-ion counterparts, which use liquid electrolyte resolution and are thus prone to exploding.

Strong-state will seemingly be the “game-changer”, stated Gardner, regardless that the know-how continues to be in improvement.

On MondayHonda introduced a $310-million funding into solid-state battery R&D, the place it could take a look at mass manufacturing of the batteries starting within the spring of 2024. Honda may also workforce up with South Korean LG Power Options to construct a $4.4-billion battery plant within the US

However till then, the auto giants themselves see worth parity difficult, at finest.

By Charles Kennedy for Oilprice.com

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