The high cost of an electric battery is still the biggest factor holding the electric car back from being mass marketed like its internal combustion counterparts, three experts said at a panel discussion Monday in Toronto.

According to Sarwant Singh, of the international business research and consulting firm Frost and Sullivan, "the cost of the battery today is almost the same as the cost of the car." This upfront cost is what makes it difficult for the e-car to penetrate the market and compete with traditional vehicles.

Dave Pascoe, vice-president of electric vehicle technology at Magna E-Car Systems, who also participated at the panel discussion, said the high cost of the battery isn't the only problem with the power source in these cars. In the past, there have been problems with battery life and limited range of the batteries on long trips.

As it stands, the current cost for the batteries is roughly $500 to $600 per kilowatt hour of energy, or as Singh estimates, about 10 times the cost of a traditional internal combustion engine.

In terms of the cars themselves, General Motor Co.'s Volt is expected to cost more than $40,000, while the Nissan Leaf is expected to sell for about $30,000. Both companies plan to sell these cars next year.

According to Joe Cargnelli, the third panelist, in an attempt to boost sales and volume to address the high battery cost, Toyota initially sold the Prius hybrid-electric car at a loss.

Experts can't agree on a solution, as some feel increased production will fix the high cost of the batteries and others suggest new technology is the answer.

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How much would you pay for an electric car? Does the high upfront cost of the battery outweigh the benefits of an e-car?

(This poll is not scientific. It is based on readers' responses.)