Mitsubishi Electric CEO Thinks EVs Will Eventually Be Cheaper Than Gas
Fresh from gaining the stability and technology of the Nissan-Renault Alliance, the President and CEO of Mitsubishi Electric, Masaki Sakuyama, was asked about electric vehicles, and noted that Mitsubishi Electric is preparing for the movement by building the inverters and motors of the future.
In the case of battery costs, Sakuyama sees the battery as the the biggest part of question to achieve price parity with internal combustion vehicles; but notes that battery prices are decreasing rapidly, and that day of equality between the two platforms is not far off.
On whether some day electric vehicles will become cheaper than conventional ones? The answer is – “some day“, but said in such a way that feels like ‘…yes, but not anytime soon’.
“”The cost of battery is now dropping very rapidly, so in the near future, the cost of the electric vehicle will be comparable to the conventional cars,” Masaki Sakuyama, president and CEO at Mitsubishi Electric, told CNBC.Some day, he added, electric vehicle batteries may become cheaper to produce than combustion engines in traditional cars.”
We should note that Mitsubishi Electric is no longer directly related to the Mitsubishi Motors, as the auto manufacturing business is now technically under Nissan’s control, but still supplies Mitsu’s EV endeavors as a supplier.