Power lithium battery prices will drop -Lithium - Ion Battery Equipment

Power lithium battery prices will drop -Lithium - Ion Battery Equipment

The report shows that the price of some electric vehicle models will be on par with traditional combustion engine vehicles as early as 2024, and will continue to decline in 2025. But for this to happen, battery pack costs need to fall further, even as demand for metals used in battery cells grows.

As countries and businesses scramble to tackle urban smog and meet the ambitious climate goals set by the Paris Agreement, calls to promote electric vehicles are growing. In September last year, British MPs called for a study of the electric vehicle market to begin to explore the necessary infrastructure and to try to determine whether to bring forward the 2040 deadline to stop selling petrol and diesel cars.(Lithium - Ion Battery Equipment)

According to the Green Alliance report, through a series of incentives, the UK is expected to reduce the auto trade deficit by 5 billion pounds (about 7 billion US dollars). The World Wildlife Fund said an early phase out of diesel and gasoline vehicles would add 14,000 jobs to the auto industry. Both groups are urging the UK to bring forward the ban on the sale of fuel-powered cars to 2030, according to a separate report this week.

As one of the most polluted countries in the world, the Chinese government is implementing production targets aimed at boosting sales of electric vehicles, seeking to lead the world in the popularization of electric vehicles, the report said. Billionaire Li Shufu, founder of Zhejiang Geely Holding Group Co, bought a 7.3 billion euro ($9 billion) stake in Daimler AG last month.

Electric vehicle battery prices are expected to drop by 67% by 2030, driven by technology and market demand.

Large-scale manufacturing of lithium-ion batteries will help push battery prices down to $70 per kilowatt-hour by 2030, according to Bloomberg New Energy Finance. The average price of a battery pack in 2017 was $208 per kilowatt-hour, squeezing EV profit margins and accounting for about two-fifths of the total cost of an EV.

"Electric vehicle sales will continue to grow over the next few years, but battery prices will still need to fall further to achieve true mass market adoption," said Colin McKerrach, the agency's transportation industry analyst. The continued surge in battery material costs could delay the inflection point where EVs are priced on par with gasoline-powered vehicles.”



Contact Us

24 hours online service