French car manufacturer Renault is aiming to reduce the cost of batteries for electric cars significantly.
In ten years, the company wants to pay half the current price per kilowatt-hour, CEO Luca de Meo said during an interview on radio station France Inter.
According to De Meo, the price of batteries has fallen sharply in recent years. According to the Italian, for the batteries in Renault’s electric model Zoe, the price has already been halved.
De Meo believes that the EU targets for reducing CO2 emissions to zero are achievable. Hybrid cars must then be used to keep the price of new vehicles affordable until the battery price is low enough.