One thing that is slowing down the uptake of electric vehicles is the high cost of its batteries. Electric vehicles actually cost less to operate than their gas-powered counterparts but they lose this advantage due to the high cost of batteries. According to recent estimates by the US Department of Energy, in order for EVs and plug-in hybrids to compete with gas-powered vehicles, they have to slash battery prices by 50 to 80 per cent. This challenge would require either inventing new kinds of batteries or improving the lithium-ion batteries that are currently used by the industry.
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