Electric car batteries fall sharply in price


October 11, Fineko/abc.az. The cost of lithium-ion batteries for electric vehicles for the period from 2008 to 2021 decreased by 87% or 7.7 times, ABC.AZ reports with reference to the analytical report of the Department of Automotive Technology of the U.S. Department of Energy.

As of 2021, the average cost of batteries is $157 per kWh of usable volume and $143 per kWh of total volume. In 2008, the useful volume per kWh was $1,237. In the last two years alone batteries have fallen in price by $200 or about 25%.

Analysts note that price reductions at this level have also become possible in a number of industries, such as chemistry, physics and battery manufacturing technologies. Experts expect that further development of technologies will further reduce the cost of batteries.