EV Lithium-Ion Batteries Almost 90% Cheaper Today Versus 2008, DOE Estimates via insideevs.com
Batteries for electric vehicles have certainly gotten cheaper over the last decade, but according to a new report published by the US Department of Energy , prices have gone down considerably. The DOE estimates that in 2022 the price of lithium-ion batteries for EVs were around 89 percent lower compared to 2008.
If we don’t adjust the currency, then the price of 1 kWh was about $1,000 in 2008, so the percentage by which it has fallen until today is reduced, yet the graph still shows a substantial drop in price. However, this doesn’t paint as accurate a picture as using real dollars, which is why they are almost always used in studies such as this one.
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