#CostReduction

Speaking at the Barron’s Investment Conference last week, Tesla CEO Elon Musk predicted EVs would be good for 500 miles per charge by 2025.

According to Green Car Reports, Musk believed such vehicles would be possible in 10 years, but tempered those expectations by cautioning that more assembly and battery production facilities would be needed to realize that future.

Though carbon fiber is being used more extensively in new vehicles, the high costs associated with building a vehicle out of the material have kept it to the likes of the Lexus LFA and BMW i Series. This could soon change, however.

One of the main goals of Tesla’s Gigafactory is to bring down battery pack costs to just under $100 per kilowatt-hour within 10 years. That goal may be harder to achieve, however, according to one skeptic.