Electric vehicle battery prices to steady by 2020: Hyundai Motor - lithium ion battery price1

SEOUL (Reuters )-
Hyundai Motor believes that due to supply constraints on key components, the price of electric vehicle batteries will be flat by 2020, ending a substantial decline over the years, which helps to stimulate activity in the booming industry.
Despite the cautious outlook, South Korean automakers and smaller subsidiaries Kia Motors plans to release 38 green models using a variety of technologies by 2025, senior vice president of Hyundai Motor
President Li Jisang said.
"In terms of pricing, there is no component that will move in a positive direction," Li, who is in charge of the operation of modern green cars, said in a speech to reporters last week that it was not banned until Wednesday.
"Battery prices have been falling rapidly so far, but by 2020 this rate will slow down significantly or keep the status quo.
While competitors have announced ambitious plans for electric vehicles, some analysts say Hyundai is too late.
It plans to launch a long term
The series of electric vehicles next year is far behind GM and Tesla.
Demand for minerals such as nickel, cobalt and lithium used in electric vehicle batteries is expected to soar in the coming years as the government hits car pollution and automakers increase their investment in electric vehicles.
Batteries are the most expensive part of electric vehicles and their price is the key to buying electric vehicles
Advances in technology. Lithium-
In the five years ended 2016, the price of ion batteries dropped by about 60%
Mass production makes them cheaper.
According to Reuters on September, the public (vowg _ p.
DE) is to ensure long term
The group planned long-term supply of cobalt for electric vehicles, but negotiations with cobalt producers ended in November without a supply agreement.
Li said that although modern cars think it is necessary-
Due to the lack of economies of scale to obtain raw materials, it still relies on external suppliers.
Designed to release vehicles driven by solid power
About 2020 of National lithium batteries promise a greater range and safety than existing lithium batteriesion units.
Japanese rival Toyota Motor Co. has announced a similar development plan. state battery-
Power car.
In addition to the hybrid and battery-
Hyundai is "coordinating" with Fiat Chrysler cars, not hydrogen-fueled cars powered by power generated by fuel cells, Li added.
Fiat's chief executive, Sergio Marchionne, said on Saturday that the two companies were in talks on technical cooperation between hydrogen and transmission.
"We don't have a stage where we can discuss it openly," Li said . ".