Budget for lithium battery development increased

The budget was increased from last year's NT$120 million (US$3.75 million) to NT$160 million this year, Economic Planning and Development (CEPD) officials said Wednesday.

Electric automobiles carry high price tags because of the expensive batteries they require and this has become a major factor in the low popularity of green vehicles.

According to the CEPD, the cost of the batteries alone accounts for nearly 50 percent of the cost of making an electric car.

Last year, Japan introduced fuel cell-leasing services in an attempt to reduce the cost to the public of electric vehicles, the CEPD said, adding that local businesses could adopt a similar model.

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