Batteries represented about 45% of the cost of electric vehicles in 2018.Because battery prices are expected to decline at the rate of about 5% per year for the next six years,electric vehicles will become increasingly profitable for automobile manufacturers

Question

Quizplus · Accepted Answer

While it's true that battery prices have been declining, which could reduce the overall cost of electric vehicles, the statement does not directly correlate this price decline with increasing profitability for automobile manufacturers. Profitability depends on various factors including but not limited to production costs, market demand, competition, and overall economic conditions.

Batteries Represented About 45% of the Cost of Electric Vehicles