Electricity battery costs have decreased 87% since 2008 (per DOE)

Electricity battery costs have decreased 87% since 2008 (per DOE)
Electricity battery costs have decreased 87% since 2008 (per DOE)

Batteries are the element that It costs more in electric cars. This cost is obviously gradually decreasing and this will allow, over time, to offer electric vehicles at lower prices. But how far they are going down the costs of batteries? According to the stime del DO (Department of Energy’s Vehicle Technologies Office) the cost of a lithium-ion battery for electric vehicles has decreased 87% between 2008 and 2021 (data calculated using the 2021 value of the “constant dollar”).

So, in 2021 the cost of a battery pack is $ 157 per kWh (actually usable energy) or $ 143 per kWh (nominal capacity). Values ​​estimated for a large-scale production of at least 100,000 units. By comparison, in 2008 the cost of a battery pack was $ 1,237 per kWh (actually usable energy).

It is worth noting that these are estimates since it is very difficult to have a real average of the production prices of the entire sector. The most important thing, however, is that the evolution of technology in this field is allowing to reduce prices of this important component of electric cars. Improvements in chemistry, design and manufacturing processes are translating into cost reductions

Obviously, there is still a lot of work to be done and this is not just about reducing the cost of accumulators. The automotive industry is investing heavily in electrification. Consequently, there are also heavy investments in the development of battery technology. Over time, this will lead to the creation of batteries that are not only much less expensive than today’s ones but also able to offer greater reliability, more autonomy and much faster recharges.

Just these days, for example, General Motors has announced the creation of a new development center to make the new generation batteries that will have to cost 60% less than those it produces today. Furthermore, we cannot forget the plans for the creation of new factories for the batteries of Stellantis, Volkswagen and Mercedes, just to name some important names in the automotive sector.

Source

Electricity battery costs decreased DOE

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