Much of the anxiety stems from batteries – the price, technology, density, and where to charge them. Manufacturers have worked for years to bring down the price on a per kilowatt-hour basis. Technology has improved, with different materials helping cars run longer and further, thus needing less charge. The chemistry has become more stable. In May, for instance, Svolt Energy Technology Co., owned by the parent of China’s Great Wall Motor Co., launched the world’s first battery that doesn’t use the controversial yet once-essential cobalt. It costs less than the mainstream competition and has higher density, meaning more energy is packed into the same volume.
So the good news is, battery prices are dropping, down to 1.1 yuan ($0.13) per watt-hour in 2019 from 2.1 yuan per watt-hour in 2016. That also means that the cost of electric vehicles is coming down (though the good ones still aren’t that affordable),