To make cars more affordable, the group is researching cheaper batteries, with alternatives to expensive raw materials like cobalt and nickel. “Alternatives could hit the market as early as 2026,” says Schmall. “It means smaller batteries, because big batteries in small cars cost a lot. An average customer drives 40 kilometers a day, so why do you need a range of 500 kilometers?
In the North American market, the picture is a little different. There, sales of plug-in cars have “grown slightly faster than expected in recent months,” Schmall said. According to him, this is partly due to the benefits for electric car buyers that have been implemented with the so-called US Inflation Reduction Act.
This multibillion-dollar stimulus program has angered Europe because it would create unfair competition. It also includes tax breaks for the purchase of parts for US-made electric cars.
Schmall announced on Tuesday a partnership in the field of charging infrastructure in Italy with a subsidiary of the Italian energy company Enel Group. The two are each investing €100 million to build a charging network of 3,000 stations by 2025.
