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Poweerrrrrr: EV Batteries

Written by Arbitrage2023-05-16 00:00:00

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Even with the cost declining somewhat in recent years, electric vehicles still generally have a higher upfront cost than comparable gasoline powered vehicles, which can be a deterrent to consumers. However, EVs have significantly lower upkeep, maintenance, and energy costs compared to carbon-powered transportation options.

One of the greatest costs to an EV driver is the battery. EV batteries typically have a longer lifespan than traditional vehicle batteries; most research shows that an EV battery should last between 8 and 15 years. Tesla recently released data showing a loss of only 12% of initial capacity after 200,000 miles. Federal law now requires manufacturers to warranty EV and hybrid batteries for at least eight years or up to 100,000 miles.

The cost for a replacement battery is generally based on the size of the battery and can range anywhere from $3500 to $20,000, though these prices are expected to fall over time as manufacturing scales and improves. The vocation of repairing EV batteries is relatively new and there are few technicians who have received training to service these high-voltage batteries. However, as this industry continues to grow, consumers may eventually have the option of repairing their EV batteries rather than having to replace them entirely.

Depending on where you live, the weather can impact the life of an electric vehicle battery. According to AAA, cold weather can decrease the range of an EV by about 40%, but around 75% of this range loss is due to keeping the cabin temperature of the car comfortable for its passengers. (Gasoline engines also lose some of their range in cold weather, but it is closer to a 15% reduction.) When the temperature gets too low, the fluid inside a lithium-ion battery cell has increased viscosity, which impacts not only the range that the battery can get on a charge but also how quickly the battery recharges.

The effects of cold weather on EV batteries is so well known that Norway hosts an event every year, inviting EV manufacturers for a "winter range test." The event this past year hosted 29 different EV models. (For those keeping score at home, the Tesla Model S not only won but also set a new range record for the event.)

One of the biggest environmental concerns with EV batteries is their need for rare earth minerals, including lithium, cobalt, and nickel. These minerals can be expensive and difficult to mine. There are also a host of environmental, social, and political issues with the impoverished countries and poor labor standards from where they are often sourced. Many companies within the EV supply chain are working to improve the sustainability and transparency of their mineral sourcing and processing practices. In addition to the production of an EV battery, the disposal of these batteries can also be a concern. While EV batteries can be recycled, this recycling process can be expensive and very energy-intensive. Additionally, the disposal of old batteries can create environmental problems if not handled properly because of the potential for hazardous waste.

EV battery manufacturers are continually working to improve safety, increase energy density, increase vehicle range, reduce charging time, and decrease costs. The University of Texas has explored cobalt-free batteries, which overcome resource scarcity issues of this critical metal. Researchers in Finland have developed silicon anode batteries. IBM is working with Mercedes-Benz to develop batteries with materials extracted from seawater. Morand, a Swiss start-up, has revealed a battery technology that reduces the charging time for EVs - 80% charge in around 72 seconds with a full charge in just 2½ minutes! The company's innovative EV battery is a hybrid system that utilizes both conventional battery and ultracapacitor technologies. This battery type cannot yet meet the demands of long-range EVs, but are perfectly suited for smaller uses such as e-bikes and drones.

Environmental concerns are why some critics claim that electric vehicles, even with zero tailpipe emissions, are not truly "clean" cars. Join us next week for a more in-depth look at these issues.


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