EV Battery Pack Prices 90% Decrease in 2023 Than in 2008

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Electrical automobile battery pack prices for a light-duty automobile in 2023 had been 90% decrease than in 2008, in keeping with DOE estimates.

The Division of Vitality’s (DOE’s) Automobile Applied sciences Workplace estimates the price of a electrical automobile lithium-ion battery pack for a light-duty automobile declined 90% between 2008 and 2023 (utilizing 2023 fixed {dollars}). The 2023 estimate is $139/kWh on a usable-energy foundation for manufacturing at scale of a minimum of 100,000 models per yr. That compares to $1,415/kWh in 2008. The decline in value is because of enhancements in battery applied sciences and chemistries, in addition to enhancements in manufacturing and will increase in manufacturing quantity.

Be aware: Value refers to usable vitality and never rated vitality.

Sources: 2018–2023 — U.S. DOE, Automobile Applied sciences Workplace, utilizing Argonne Nationwide Laboratory’s BatPaC: Battery Manufacturing Value Estimation Instrument.

2017 — Steven Boyd, DOE, Automobile Applied sciences Workplace, 2017 Annual Benefit Evaluation, Batteries and Electrification R&D Overview, June 18, 2018, PowerPoint presentation, p. 7.

2016 — David Howell, DOE, Automobile Applied sciences Workplace, 2017 Annual Benefit Evaluation, Electrochemical Vitality Storage R&D Overview, June 20, 2017, PowerPoint presentation, p. 6.

2008–2015 — Nationwide Academies of Sciences, Engineering, and Medication 2017. Evaluation of the Analysis Program of the U.S. DRIVE Partnership: Fifth Report. Washington, DC: The Nationwide Academies Press, p. 173.

Truth #1354 Dataset. Truth of the Week #1354 courtesy of U.S. Division of Vitality, Automobile Applied sciences Workplace. See extra 2024 Information of the Week.