New Battery Tech Could Cut Electric Car Battery Pack Costs by 85%

[Anto]

5 years seems like forever waiting for these super batteries to show up.
Link

Yet-Ming Chiang, a researcher and founder of A123 Systems, has developed a new battery design that he claims could make electric vehicles much cheaper. Chiang has started a new company to commercialize the battery technology called 24M. The researcher says that the new battery he has designed could cut costs of the battery packs for electric vehicles, such as the Chevrolet Volt, by as much as 85%.

That cut in price on the battery pack, which can cost as much as $10,000, has the potential to significantly affect the price of electric vehicles and make them more cost competitive with traditional gasoline vehicles. A24 has raised $10 million in venture capital and an additional $6 million from Advanced Research Projects Agency-Energy or ARPA-E. The money will be used to fund collaboration between A24, MIT, and Rutgers University.

[wtiger]

That would be awesome, but I'll believe it when I see it. While he has a lot of credibility we've heard this song and dance many times before and it almost always either doesn't pan out; because of technical issues or it's just an incremental upgrade rather than ground breaking.

[Mohsen]

Isnt Chiang supposed to be leading A123 research?

What is he doing taking research out, and starting his own joint?

Where does that leave A123?

[ChrisC]

24M is an A123 spinoff.

MIT professors are permitted to spend 20 percent of their time working with commercial ventures, and Chiang, who sees each work week as consisting of at least 168 hours, plans to continue taking advantage of that allowance. But he didn't want to detail how much time he would be spending at A123 versus 24M.

http://www.boston.com/business/techn...nother_al.html

[rhodomel]

All of these too good to be true companies delivering in five years time are just overhyping at this stage to get funding. They are no different than EESTor. I wish that they will announce when they have a product ready to be delivered or have been certified and are just awaiting mass production. I have no hope in all products that have not gone beyond proof of concept and simply await funding so that they can be sold in five years time. They waste time and money.