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 have been 90% decrease than in 2008, in accordance with DOE estimates.

The Division of Power’s (DOE’s) Car 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 at the least 100,000 models per yr. That compares to $1,415/kWh in 2008. The decline in price is because of enhancements in battery applied sciences and chemistries, in addition to enhancements in manufacturing and will increase in manufacturing quantity.

Be aware: Price refers to usable power and never rated power.

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

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

2016 — David Howell, DOE, Car Applied sciences Workplace, 2017 Annual Advantage Assessment, Electrochemical Power Storage R&D Overview, June 20, 2017, PowerPoint presentation, p. 6.

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

Reality #1354 Dataset. Reality of the Week #1354 courtesy of U.S. Division of Power, Car Applied sciences Workplace. See extra 2024 Info of the Week.