As we have reported, the electric vehicle segment has grown significantly. Nowadays there are already several models at the most diverse prices, but the final value continues to be influenced by the battery pack.
The good news is that the price of batteries has been falling. According to the latest figures, the price of batteries reached 111 € / kWh in 2o2o… but there is more news.
Prices for lithium batteries, which were above $ 1,100 per kilowatt-hour in 2010, fell 89% in real terms to $ 137 / kWh in 2020 (€ 111 / kWh). In 2023, average prices will be close to US $ 100 / kWh, according to the research company's latest forecast batteries (BNEF).
The fact that the price of batteries goes down may mean that the value of electric cars also follows the same path.
Prices for battery electric vehicle (BEV) packages are $ 126 / kWh on a volume weighted average basis. At the cell level, average BEV prices were just $ 100 / kWh. This indicates that, on average, the battery's share of the total price represents 21%.
The price reductions for batteries in 2020 are due to increased demand, growth in BEV sales and the introduction of new packaging designs. New cathodic chemicals and falling manufacturing costs will cause prices to fall in the short term. The prices of cathodic materials have fallen since reaching a high in spring 2018, finding a more stable level during 2020.
The path to reach $ 101 / kWh (82 euros) by 2023 seems clear, even though there are undoubtedly setbacks, such as increases in commodities, along this path. There is much less certainty as to how the industry will further reduce prices by $ 100 / kWh up to the expectation of $ 58 / kWh (47 euros) by 2030. Not because it is impossible, but because there are several options and decisions that can be followed.