In August Batteries Of price By nearly 10 percent, passing an important milestone, energy analysts said Electric vehicles sees the transition to as the ‘tipping point’ for supercharging.
The price of lithium-ion battery cells, which power everything from smartphones to the International Space Station, fell below $100 per kilowatt-hour last month, down 33 percent from March 2022 and 8.7 percent on a monthly basis. There is a shortage.
Benchmark Mineral Intelligence, an energy analytics firm that compiles the data, wrote that battery pack prices for electric vehicles would need to reach $100 per kilowatt-hour to catch up with fuel-burning vehicles.
Benchmark analyst Evan Hartley said: ‘From a drop in sales prices [مینوفیکچررز] Mass-market electric vehicles will be able to sell at prices similar to combustion engine vehicles, with the same margins, improving the attractiveness of the EV transition for both consumers and automakers.
“Falling cell prices are a particular concern for companies investing in cell production outside of China, especially when there are already concerns about the profitability of factories in regions such as Europe.”
The report said the price cuts could also have an impact on other technologies, including solar and wind installations, which need to store excess energy during periods of peak production.
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Energy analyst Gerard Reid wrote on LinkedIn: ‘The energy and transportation revolution is underway.
‘Lithium battery cell prices are now less than $100 per kilowatt, down 80% in a decade. Going forward we will see even lower costs and better performance, so the death of the internal combustion engine is imminent.’
The falling prices have been attributed to falling raw material costs, with lithium prices falling by more than half since the start of 2023.
The price may continue to fall following the discovery of large lithium deposits in recent months, particularly in an extinct supervolcano on the border of Nevada and Oregon.
According to recent estimates by geologists, McDermitt Caldera may contain 120 million tons of lithium, which could potentially supply the world’s battery demand for decades.
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