Electric Evolution

While electric cars sell, they come with two problems. The first, a large public subsidy. When it ended, as it did in Hong Kong and the State of Georgia, sales plummeted by 100% and 80% respectively. The second problem, high battery prices. With oil at $50/bbl, batteries must fall from the current $270/kwh to $50/kwh for electrics to cost the same as existing cars. That may take another decade.