Battery Pack Costs Have Dropped 90% In 15 Years
The U.S. Department of Energy’s Vehicle Technologies Office has estimated the cost of electric vehicle lithium-ion batteries have dropped by about 90 percent since 2008.
Using 2023 constant dollars to account for inflation, the DOE’s estimates had batteries for electric vehicles set at $1,415 per kilowatt hour in 2008 compared to $139/kWh in 2023. That huge decline in costs is mainly thanks to scale of production, cheaper chemistries, and manufacturing improvements.
For consumers, this means that the average EV battery cost for an 80kWh battery pack (now common) in 2008 would have been $113,200 compared to a cost of $11,120 today. That is still about a quarter of the cost of the average new car today, but a substantial improvement nonetheless.
The post Battery Pack Costs Have Dropped 90% In 15 Years appeared first on EV Meme.
Source: https://www.evmeme.com/battery-pack-costs-have-dropped-90-in-15-years/
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