General Motors Company (GM), Tesla Motors Inc (TSLA): Summer EV Competition Heats Up

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The Electrification Coalition said that in 2008, the price per kilowatt hour for EV batteries was as high as $1,000 — but that number is expected to drop to about $35/kWh by 2020. If battery technology progresses quickly enough — along with increasing electric-vehicle sales — investors and consumers may be looking at a bright future for EVs.

Investors should continue tracking EV sales, along with possible battery price drops, to keep a pulse on the overall industry. With General Motors (NYSE:GM) and others dropping their EV prices, it’s likely that we haven’t seen the bottom of electric-car deals — and that could be a very good thing for sales.

The article Summer EV Competition Heats Up originally appeared on Fool.com and is written by Chris Neiger.

Fool contributor Chris Neiger has no position in any stocks mentioned. The Motley Fool recommends Ford, General Motors, and Tesla Motors (NASDAQ:TSLA) and owns shares of Ford and Tesla Motors.

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