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Home » Rising battery prices threaten to derail the arrival of affordable EVs

Rising battery prices threaten to derail the arrival of affordable EVs

Average pack prices rose 7% in 2022

Bloomberg NewsbyBloomberg News
December 6, 2022
in Technology
Reading Time: 3 mins read
0
Rising battery prices threaten to derail the arrival of affordable EVs

A cross-section of an electric vehicle battery is displayed in the welcome center at the Contemporary Amperex Technology Co. (CATL) headquarters building in Ningde, Fujian province, China, on Wednesday, June 3, 2020. CATL's battery products are in the vehicles of almost every major global auto brand, and starting this month they'll also power electric cars manufactured by Tesla at its factory on the outskirts of Shanghai.

Falling battery prices have been one of the most consistent trends in the electric vehicle industry for the last decade. Prices dropped from well over $1,000 per kilowatt hour in 2010 to $141 per kWh last year. This jump-started one of the biggest shifts in the auto industry in the last century, spurring automakers to plow billions […]

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