The Volta Foundation’s 2023 Battery Report has ben released. The Volta Foundation is the global battery community and contains Siemens and Ford among its members.

The report notes that EVs may soon to reach a price point level with ICE machines and notes that already the average price of an EV has dropped by 25 per cent from 2022. Abundant supply of raw materials is likely to cause further price falls.

In more technical terms, the emerging trend in the battery design is in large-format prismatic lithium iron phosphate (LFP or LiFePO4) cells. Such cells can contain more energy, provide a longer lifespan than lithium ion and are less prone to overheating.

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