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Report: Mitsubishi Planning ¥2M (US$22K) EV by FY 2012

The Nikkei reports that Mitsubishi Motors Corp. plans to bring the price of its electric vehicles down some 30% to around ¥2 million (US$22,000) by fiscal 2012.

Unveiled last July, the i-MiEV electric car can now be purchased in Japan, including government subsidies, for ¥2.84 million (US$31,300).

But Mitsubishi Motors sees the need for further price cuts considering the growing popularity of hybrids priced around 2 million yen. Factoring in subsidies, the i-MiEV will effectively sell for around 2 million yen.

Volume production of lithium ion batteries, the most expensive component in an electric vehicle, will lower costs sharply. A battery plant coming online in April 2012 will churn out 70,000 units a year, with the mass production cutting battery costs to under 1 million yen per vehicle, down from 2.5 million yen. Mitsubishi Motors will also work with the suppliers of motors, rechargers and other parts to reduce component numbers, making volume production easier.

Mitsubishi is also targeting an increase in automated manufacturing processes for EVs to about 10% of total assembly—on par with gasoline-fueled vehicles—from the current 2%.

Comments

Davemart

Excellent! The most interesting thing to me is the figures on battery costs, where the 16kwh battery is $11k, or just under $700kwh

clett

$700/kWh is still a lot higher than the ~$300/kWh offered by some other lithium batteries at the moment (equivalent to a standard 8 Wh 18650 cell costing about $2.40).

Paul

Sure, the going rate for 18650 Li-ion cells is around $300 kWh.. even on ebay, but a new car battery pack does have to include a BMS.

With e.g. 100 cells in series and each cell needing a BMS module containg a few ICs, it does add to the overall battery pack costs although I'm sure that doesn't double to cost of the pack,

HarveyD

Within 10 years, e-vehicles should (by their more basic nature) be cheaper and more efficient than their ICE equivalent. By 2020, improved batteries will cost less than $100 Kwh and e-range will be over 500 Km between quick charges. Over weight ICE gas guzzlers may be a curiosity.

SJC

That would be nice, I keep hoping for lithium air to be the energy and lithium ion to be the power. The combination of those would give you range and power without an ICE range extender or fuel cell.

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