THE RACE FOR EV DOMINANCE

Inside the Race to Build an Affordable Electric Vehicle; The clash between automotive titans GM and Tesla will be a win for all of us.

Lorraine Chow, Sept. 4, 2014 (NationSwell)

“…[Tesla Motors] is working on the first EV for the mainstream…[The Model 3 is] targeted for release in 2016 and available to the general public in 2017…[It] will cost $35,000 and can travel 200 miles on a single charge. The only other major EV that can reach 200-something miles is the Tesla Model S, which starts at a much more costly $70,000…[The Tesla Model 3] could dominate…But not if General Motors gets there first…[A]n affordable 200-mile EV could really sway buyers…Sales of electric cars — which currently stand at 2,000 to 3,000 vehicles a month — could swell to 15 to 20 times that amount…The reason why EVs are currently so expensive: batteries are costly. However, as technology improves, batteries will get cheaper…[The Tesla gigafactory is expected to cut the cost to] about $10,500 each…Korean chemical company LG Chemical is working on their own battery that could be 200-mile ready by 2016…LG is GM’s supplier…[T]he smart money is on Tesla…The drama between Tesla and GM is already exciting, but the best part about this EV battle? The planet is much better off for it…” click here for more

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