Technology Review – an accumulation of improvements have lowered the cost premium on hybridcars from $6000 to $2500. The extra cost is about 40% of what it was a few years ago.
The drop in cost is due to an accumulation of incremental technology improvements, along with economies of scale. And advances going forward—better batteries, electric motors, and power electronics and transmissions—could cut costs by another 50 percent.
At Toyota, for example, the company shifted from a 500-volt electrical system to a 650-volt one, a decision that produced “a host of benefits,” says Justin Ward, advanced power-train program manager at the Toyota Technical Center. The company was able to reduce the cost and weight of copper wiring, use cheaper power transistors in the electronics that control the hybrid system, and make the electric motor cheaper and smaller.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.