Lithium battery energy storage price war

Are power batteries causing a price war?

The price war for power batteries is intensifying, with the world's two largest battery makers reportedly pushing battery costs down further. (Image credit: CnEVPost)

What's happening with the lithium-ion battery price survey?

BloombergNEF breaks down the biggest annual drop in its lithium-ion battery price survey since 2018. Cylindrical battery cells undergoing tests in the UK. Have a confidential tip for our reporters? Get in Touch As the auto industry grapples with how to make affordable EVs, the task may get easier by one key metric.

How much did lithium-ion battery prices drop in 2022?

According to BloombergNEF’s annual lithium-ion battery price survey, average pack prices fell to $139 per kilowatt hour this year, a 14% drop from $161/kWh in 2022. 1 Have a confidential tip for our reporters? Get in Touch BloombergNEF breaks down the biggest annual drop in its lithium-ion battery price survey since 2018.

Are lithium batteries cheaper?

These batteries are cheaper, as they have no cobalt. They have other benefits too: a longer usable life and less risk of fire than traditional lithium battery chemistries. The downside is they have lower capacity and voltage.

Are lithium phosphate batteries cheaper?

That’s why Chinese companies such as CATL have all but monopolised the market on another chemistry, lithium iron phosphate (LFP) batteries. These batteries are cheaper, as they have no cobalt. They have other benefits too: a longer usable life and less risk of fire than traditional lithium battery chemistries.

Could a battery price war make electric cars cheaper?

A battery price war is kicking off that could soon make electric cars cheaper. Here’s how The main cost of an electric vehicle (EV) is its battery. The high cost of energy-dense batteries has meant EVs have long been more expensive than their fossil fuel equivalents. But this could change faster than we thought.