| It's Monday. One of the reasons electric vehicles are expensive is the batteries that make them go are so costly, making up about a third of the sticker price of an EV, Tech Brew's Jordyn Grzelewski reports. But Goldman Sachs predicts that EV battery prices will soon fall, which is good news if you're hoping to park a plug-in car in your driveway soon. In today's edition: —Jordyn Grzelewski, Kelcee Griffis, Annie Saunders | | Illustration: Dianna "Mick" McDougall, Photos: Getty Images, Rivian Forums | Down and to the right: That's where EV battery prices are headed, per a new research note from Goldman Sachs. Analysts project that the price of batteries—which make up about one-third of the cost of an EV—will plummet almost 40% between 2023 and 2025, thanks to falling critical minerals prices and advancements in battery technology. The upshot is that lower battery prices—and therefore lower price tags on EVs—could help spur demand for plug-in cars. "If EVs have to match ICE cars on price, the batteries need to be cheaper," Goldman analysts wrote in another February note. The projections are welcome news for automakers, many of which have pulled back on EV investments in recent months as demand has slowed amid price and range concerns. Goldman analysts noted that by next year, some EV models may reach price parity with combustion engine vehicles. "The good news is battery prices are now falling rapidly," Nikhil Bhandari, co-head of Goldman Sachs' Asia-Pacific Natural Resources and Clean Energy Research, wrote. Goldman Sachs Research revised downward its forecast for global battery demand this year, from 35% YoY growth to 29%. (Though demand grew 31% in 2023.) One of the factors driving EV battery prices lower is that in 2020, as investments in electrification picked up steam, the market for metals like lithium, cobalt, and nickel became "overwhelmed," according to Bhandari, pushing up prices. But automakers and their suppliers didn't quite get their demand projections right, leading to an oversupply of metals—bringing us to where we are today. Keep reading here.—JG | | PRESENTED BY INFINITY FUEL | | Spencer Platt/Getty Images | Thinking about buying an off-brand Ring doorbell? Considering an Alexa-like voice assistant but don't know which one to choose? Under a new program established last week, the Federal Communications Commission aims to make comparing the security features of connected devices much more accessible for consumers. Products bearing the US Cyber Trust Mark—which could range from home security cameras to wi-fi routers and baby monitors—will be part of a voluntary registry that certifies compliance with the National Institute of Standards and Technology's cybersecurity criteria. As IT Brew previously reported, consumers will be able to scan a QR code on the packaging of certified products to learn more about their security features. "Our expectation is that over time, more companies will use the Cyber Trust Mark—and more consumers will demand it. This has the power to become the worldwide standard for secure Internet of Things devices," FCC Chairwoman Jessica Rosenworcel said in prepared remarks. When the White House first announced the program last summer, it noted that big players including Amazon, Best Buy, Google, LG, Logitech, and Samsung Electronics had already agreed to participate. FCC Commissioner Geoffrey Starks, a Democrat, who recently questioned the sellers of certain smart doorbells with newly discovered security loopholes, said during an FCC meeting Thursday that the program comes at the right time to save tech consumers a lot of headaches. Keep reading here.—KG | | Martin Markiewicz | Coworking is a weekly segment where we spotlight Tech Brew readers who work with emerging technologies. Click here if you'd like a chance to be featured. How would you describe your job to someone who doesn't work in tech? As CEO and co-founder of Silent Eight, my job is to build technology using AI and machine learning that helps banks comply with sanctions and anti-money-laundering statutes. But it's certainly not a solo job: Silent Eight partners with some of the largest financial institutions in the world, which are able to deploy our technology in these high-risk use cases to catch financial criminals and help fight terrorism and human trafficking. Essentially, I have to think about three aspects of the company: ensuring that we're building the most effective technology, bringing it to the market for testing, and implementing it in these real-world use cases to ensure that it is successful for these purposes. What's the most compelling tech project you've worked on, and why? The most interesting and monumental project we worked on was actually one of our first partnerships in 2018 with Standard Chartered, because it felt like a make-or-break moment for actually bringing our vision to life. Our goals were very ambitious, resulting in a tremendous amount of pressure on the team. We had built the first version of the software product, a giant leap on this path to leveraging AI to be as fast and effective as possible in combating financial crime. The project was a success, and this year we continued to expand our partnerships, most recently with Emirates and HSBC. Keep reading here. | | | This card's a game changer. We're talkin' up to 3% unlimited Daily Cash back—that's real cash that never expires or loses value. The card in question? Apple Card. Earn Daily Cash that can grow automatically at 4.50% APY when you open a high-yield Savings account through Apple Card. Apply for Apple Card to level up your card game. Terms apply. Savings provided by Goldman Sachs bank USA. Member FDIC. | | Level up your career with these resources from our sponsors! | | Stat: 42%. That's the percentage of "data and advertising decision-makers" who anticipate Google will phase out cookies this year, Marketing Brew reported, citing data from the Interactive Advertising Bureau. "FWIW," our sister Brew noted, "Google still says it's on track to phase out cookies by the second half of 2024." Quote: "Rivian's R2 is basically its make-or-break model. It's the first volume play that brings its products into much more mainstream territory…The brand's future really hinges on that model's success."—Paul Waatti, director of industry analysis at AutoPacific, to Tech Brew's Jordyn Grzelewski in a story about the newly released Rivian R2 SUV Read: End the phone-based childhood now (The Atlantic) An infinite supply of energy? 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