One of the main reasons we’re not all driving electric vehicles is the price. If you compare the cost of an EV with a similarly specified Internal Combustion Engine (ICE) car, it will be at least £10-15,000 ($12,500-$19,000) more expensive. The EV will be much cheaper to run after purchase, but there’s no denying that this massive initial premium is a considerable disincentive to widespread early adoption. Although some of this extra expense will be because companies are trying to claw back the development costs of the new technologies involved, the vast majority comes from one thing – the high price of rechargeable batteries. This is why some of Tesla TSLA +11.3%’s recent advancements in batteries are its most important developments so far, but most significantly its shift away from cobalt.