Batteries for electric cars have fallen in price by 90%

Batteries for electric cars have fallen in price by 90%

FineAuto

Green Car Congress experts conducted a study and found that, despite the difficulties in the automotive industry caused by the coronavirus pandemic, over the past ten years, the cost of electric car batteries has dropped by almost 90 percent. If in 2010 the price of a kilowatt-hour in lithium-ion batteries was 1200 dollars, then at the moment the average cost is already 132 dollars. Experts note that such a trend may in the near future equalize the cost of “green” models and cars using internal combustion engines.

Despite the shortage of microelectronic components, production shutdowns and other difficulties caused by the COVID-19 pandemic, in the last year alone, electric vehicle batteries have fallen in price by six percent. The lowest prices for batteries are now in China, where the cost per kilowatt-hour is $ 111. This is not surprising, since it is in the Celestial Empire that the largest number of electric car production is concentrated. Battery prices are 40 percent higher in the US and 60 percent higher in Europe.

This trend is associated with an increase in production volumes. After all, as soon as a product becomes mass, its cost is significantly reduced. However, in the case of batteries for electric cars, there are some nuances. Batteries require minerals as well as technologies for recycling. In this regard, prices for batteries may periodically rise. According to experts, the decrease in the cost of batteries will ultimately lead to the fact that “green” transport will become as affordable as cars with internal combustion engines.

In mid-November, Sweden developed lithium-ion batteries that are completely recyclable. For the production of batteries, specialists used recycled nickel, manganese and cobalt.

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