“For battery cells for the Model 3, costs outweighed profit in the first quarter. As production accelerates towards next year, we expect the business to contribute profit.”
Panasonic’s financial chief Hirokazu Umeda grants an exclusive insight into his accounting books. Like Tesla CEO Elon Musk he bets on the Model 3 to activate a strong demand and thus reach the mass market.
“If a really new, next-generation battery appears, like magic, around 2025, then the market share of electric vehicles will go from 20 to 30 percent to 80 to 90 percent of the whole market.”
Lee Ki-sang, a senior vice president for Hyundai Motor Group, expects the current li-ion batteries to soon reach their limit. Whether there will be a breakthrough in battery tech, he doesn’t dare to predict, but if it is the case, he’s convinced it will be a breakthrough for EV tech, too.
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