Cost of EV Batteries Will Go Down, White House Says

The White House recently released a report titled "A Secure Energy Future: Progress Report" that explains how the cost of electric vehicles will go down considerably over the next few years, with the primary reason being the drop in price of electric vehicle batteries, which are one of the largest costs for auto manufacturers and a main reason as to why electric cars and hybrids are so expensive. This, in turn, will help the U.S. dramatically reduce its dependence on foreign oil, as a cost of a 10 kilowatt battery that gives a car a 40-mile range will drop to $3,600 by 2015. Auto transportation companies have noticed a sharp decline in the number of new hybrid and full-electric vehicles being shipped, with consumers switching to more conventional automobiles thanks to better fuel economy, but that doesn't mean that the hybrid is doomed to be forgotten. On the contrary, many auto transporters are gearing up for more hybrids and more full-electric vehicles. Hopefully this is the wave of the near-future, as gasoline prices are just going to continue going up.