Ford Intends to Decrease Cost of Its EV Batteries by 40% By Mid-Decade

Automakers strive for cutting the cost of electric vehicles to make them more affordable. Ford Motor Co is no exception.

During a recent Capital Markets Day presentation, the company announced its plans. They include the development of new IonBoost battery packs, a new dedicated platform for fleet / commercial usage, an increase in investment in electric car building.

Ford also introduced Blue Oval Intelligence – a connected vehicle platform. One of the most interesting news is the news about a future launch of the all-electric Ford Explorer.

And, of course, Ford could not help mentioning its plan for cutting expenses. Meaning, they are working on the decrease of the cost of EVs by driving down battery costs.

The company did emphasize it would be diminishing EV battery costs to achieve a decrease by 40 percent by 2025. That’s not news, actually: most carmakers want to make their electric vehicles less expensive, and have their own electrification strategy.

Electric cars will become cheaper – and the demand for them will grow. It’s no secret that price is one of the main factors why customers are still wary of buying an electric vehicle.

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