Everyone loves a good “breakthrough” headline about electric vehicles, especially the kind that promises they’ll finally stop costing as much as a mid-sized house in Ohio. Well, here’s one for you: according to a new study, the price of lithium batteries has fallen greatly, recording the most significant drop in seven years. The need for cheaper batteries is often cited as one way to speed up adoption, with experts waiting for EVs to achieve price parity with combustion vehicles.

Lithium-ion battery pack prices have cratered thanks to an oversupply of cells, as well as lower prices for the raw metals and other components used in manufacturing. The BloombergNEF survey covered 343 data points, encompassing electric cars, buses, and commercial vehicles.

Price Parity By 2026

The quest for electric vehicles to become as affordable as their internal combustion engine counterparts will be the true litmus test for widespread adoption. If the trend we’ve witnessed this year continues, we could see the much-vaunted price parity between electric vehicles and gas-powered cars becoming a reality for consumers as soon as 2026.

See: GM Sells $1 Billion Stake In Joint Battery Plant To LG

Currently, the average cost of a battery pack sits at $115 per kWh — a 20 percent decline from last year. Pricing will need to drop by $15 to $100 per kWh for that magical price parity, although according to the report from Bloomberg, that’s already happened in China, with some EVs selling for cheaper than their combustion counterparts.

There’s Still Some Way To Go

While BNEF predicts battery pricing will drop below $100 per kWh by 2026 and down to $69 per kWh by 2030, there are geopolitical and macroeconomic factors that may further impact these projections.

However, there will still be a “chicken and egg” situation, where the production of EV cells remains heavily dependent on car sales. While there has been an oversupply of cells recently, partly due to a slowdown in EV sales growth in some markets, manufacturers may begin to reduce production as a result, too.

Government Actions and Tariffs Threaten EV Progress

There are also other factors that may affect the road to price parity. European governments are slashing their EV subsidies, which, in Germany at least, has led to a significant drop in sales for 2024. Meanwhile, in the US, incoming President Donald Trump has threatened to impose 60% tariffs on Chinese imports and 10%-20% tariffs on those from other countries. His transition team is also pushing for Congress to repeal the $7,500 electric vehicle tax credit. If successful, this could severely impact most automakers, even though Musk believes it may ultimately benefit Tesla.

Porsche has unveiled two new Taycan models for the (facelifted) 2025 model year, bringing the total number of flavors on offer to an ice-cream-parlor-rivaling 13. The new Taycan 4 will serve as the entry-level model, and the updated Taycan GTS will be available in both sedan and “Sports Turismo” shooting-brake body styles.

2025 Taycan 4: Dual-motor, AWD powertrain as standard

Starting with the $103,300 Taycan 4, the new model brings the sensibilities of the entry-level car with a dual-motor all-wheel drive drivetrain. Such a model was previously available in the Cross Turismo line, but it has now been extended to those who prefer the sedan body shape.

Read: Korea Gets Its Own Special Version Of The Porsche Taycan Turbo

Porsche says that power output will vary depending on which battery is specced, but expect up to 402 hp using the over-boost function or 429 hp with launch control enabled. The Taycan 4 sports sedan comes with 19-inch alloy wheels, Matrix Design LED headlights, Porsche Traction Management (PTM), and Adaptive Air Suspension with Porsche Active Suspension Management (PASM) fitted as standard.

Meanwhile, that extra electric motor and driven axle may give you a bit more confidence in the corners, but it won’t make much of a difference to the on-paper performance. The Taycan 4 will do the 0-60 mph (0–96 km/h) sprint in 4.4 seconds, which is just 0.1 seconds faster than the rear-wheel drive model.

The New Taycan GTS: More Powerful And Faster Than Before

Meanwhile, if entry-level models aren’t your style, then you can go for the new Taycan GTS. You’ll have to part with $147,900, but you gain 100 hp more than the GTS’ preceding model. That’s a whole 690 hp when using launch control and overboost. Sport Chrono comes as standard, and as such, you get the video-game-like push-to-pass button, with 93 extra hp and a 10-second countdown timer.

The new GTS is 0.4 seconds faster to 60 mph (96 km/h) than the outgoing model, getting there in 3.1 seconds. Meanwhile, the GTS sport sedan can cover the quarter-mile in 11.1 seconds — 0.7 seconds quicker than before.

See Also: Porsche Taycan Sales Are A Disaster, But Cayenne Saves The Day

The Porsche Taycan GTS isn’t without its frivolities. For the 2025 model year, you get the “Electric Sport Sound profile,” which is supposed to sound more distinctive. In reality, it’s borrowed from the bigger brother, the Taycan Turbos S. Also new are Sport Design front and rear aprons, while the wheels are standard 20-inch Taycan Turbo S rims.

The interior features 18-way adjustable Adaptive Sports Seats Plus, a heated steering wheel, and an extended Race-Tex and leather interior. Rear axle steering comes as standard, as does adaptive air suspension and torque vectoring.

Availability and Pricing

Order books are now open for all new models of the Taycan range, with dealership availability set for late Q1 of 2025. The Taycan 4 sports sedan starts at an MSRP of $103,300, while the new Taycan GTS starts at an MSRP of $147,900 for the sedan and $149,800 for the Taycan GTS Sport Turismo. MSRP does not include tax, title, registration, dealer charges, or a $1,995 delivery, processing, and handling fee.

The state of charging infrastructure remains a primary concern for many debating whether to switch to EVs. So, when Ford opted to become the first non-Tesla automaker to commit to Tesla’s NACS charge port, it triggered a slew of other manufacturers to do the same.

By adopting NACS in favors of CCS, Ford’s vehicles will be able to have access to Tesla’s expansive Supercharger network. However, there was one catch: the ports will only start appearing on Fords from 2025. Luckily for existing Ford EV owners, the company decided to offer Tesla’s CCS to NACS adapter completely free of charge.

Read: Ford Mustang Mach-E And F-150 Lightning Owners Can Get Tesla Charging Adaptor Soon

However, it’s not been smooth sailing. With free adapter reservations opened in February, some customers still await the port converter. Now, to try and expedite the rollout, Ford will offer its own branded adapter.

According to a report by The Verge, Tesla has been slow to manufacture enough adapters. Some of the earlier units that were sent out have also had issues. Some customers reported slow charging. In more severe cases, using the adapter has led to port damage, with Ford asking some of those affected by the sub-par converters to stop using them while they send out a replacement.

Ford’s self-branded adapters will be made by EV equipment supply company Lectron. Ford has confirmed that the new adapters are unrelated to the ones that were deemed faulty. However, Lectron themselves haven’t been immune to issues, with their “Vortex” NACS to CCS adapters initially having a design flaw that could make them unlatch while charging. These adapters were recalled and replaced.

While the road to getting Fords to charge at Supercharger locations around the country certainly hasn’t been straightforward, efforts are clearly being made to offer customers the option. Despite the spotty rollout of adapters, Ford says that they remain committed to its “Power Promise,” which includes offering free home chargers to new EV customers.

Toyota Chairman, former CEO, and founding family member Akio Toyoda has always been forthright about his views on EVs. While the Japanese automaker has been reserved about its commitment to an all-electric future, trying to toe the line between alternative fuels, hybrids, and EV adoption, Toyoda has gone on record before saying the push by governments and manufacturers towards banning ICE vehicles was shortsighted.

Now, the Toyota chairman has predicted that if an EV-only future is on the horizon, the automotive sector, especially those working in ICE tech, will lose millions of jobs. He made these remarks during an event at Nagoya University in central Japan, where he was unveiling a bust of his father, Shoichiro Toyoda.

A Threat to Jobs and Suppliers

“There are 5.5 million people involved in the automotive industry in Japan. Among them are those who have been doing engine-related (work) for a long time,” said Toyoda. “If electric vehicles simply become the only choice, including for our suppliers, those people’s jobs would be lost.” According to Reuters, Toyoda followed up these comments by reaffirming his preference for gasoline vehicles.

Related: Toyota Slashes EV Production Target By 33%, Report Says

Toyoda’s comments echo similar remarks he’s made over the years. In addition to predicting industry job losses, the Toyota chairman has also blasted politicians for their push for EVs and claimed that Japan would run out of electricity in the summer if all vehicles were electric. Instead, Toyoda advocates for a more balanced path toward carbon neutrality, one that includes hybrids and cleaner internal combustion engine vehicles.

Toyoda’s outspoken stance hasn’t proven to be a popular one in the past. During his tenure as CEO of Toyota, the company was ranked as the third most obstructive company towards government efforts to curb climate change. Earlier this year, his most recent reelection as chairman was objected to by some investors who feel his outlook is flawed.

Toyota Thrives Amid an EV Slowdown

Despite the controversy, Toyota is currently reaping the benefits of a slowing EV market. While the share of EVs continues to grow, the rate at which it does so has seen a significant slowdown, prompting other automakers such as Ford, GM, and Volvo to reassess their previously EV-heavy strategies. Toyota, on the other hand, is selling more cars than any other manufacturer in the US, largely thanks to its robust (and growing) range of hybrid offerings.