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Stock impact report

Off-highway Electric Vehicle Market To Reach USD 10.1 Billion By 2032 | DataHorizzon Research [Yahoo! Finance]

Caterpillar, Inc. (CAT) 
Last caterpillar, inc. earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: caterpillar.com/en/investors.html
Company Research Source: Yahoo! Finance
Fort Collins, Colorado, April 17, 2024 (GLOBE NEWSWIRE) -- Consistency in improvements for battery technology is crucial for market development. The continuous advancements in battery technology serve as a pivotal driver propelling the growth of the off-highway electric vehicle market. The evolution of high-capacity, rapid-charging, and durable batteries has transformed electric powertrains into a viable substitute for conventional diesel engines across off-highway applications. As per the U.S. Department of Energy, the cost of lithium-ion batteries has plummeted by a staggering 89% since 2008, dropping from USD 1,355 per kilowatt-hour (kWh) to USD 153/kWh in 2022. This significant reduction in battery costs has rendered electric off-highway vehicles increasingly cost-competitive with their diesel counterparts. Moreover, the rising energy density of batteries has empowered manufacturers to engineer electric off-highway vehicles with extended operating ranges, rendering them suita Show less Read more
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