Historical and prospective lithium-ion battery cost trajectories
LiB costs could be reduced by around 50 % by 2030 despite recent metal price spikes. Cost-parity between EVs and internal combustion engines may be achieved in the second half of this
According to BloombergNEF's 2025 Lithium-Ion Battery Price Survey, lithium-ion battery pack prices have fallen 8% since 2024, reaching a record low of $108 per kilowatt-hour.
1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price. The cost of lithium-ion batteries per kWh decreased by 20 percent between 2023 and 2024. Lithium-ion battery price was about 115 U.S. dollars per kWh in 202.
That is more than 2.5 times annual demand for lithium-ion batteries in 2024, according to BNEF. “The price drop for battery cells this year was greater compared with that seen in battery metal prices, indicating that margins for battery manufacturers are being squeezed.
Battery electric vehicle (BEV) packs were the lowest-priced within the transport category at $99/kWh; this was the second year they remained below $100/kWh. Average LFP battery pack prices across all segments stood at $81/kWh, compared with $128/kWh for nickel manganese cobalt (NMC) packs.
LiB costs could be reduced by around 50 % by 2030 despite recent metal price spikes. Cost-parity between EVs and internal combustion engines may be achieved in the second half of this
Pack prices in the North America and Europe were 44% and 56% higher, reflecting higher local production costs and greater dependence on imported batteries, which typically have a
For the better part of a decade, the battery industry has taken for granted that when the prices of lithium and cobalt spike, pack prices inevitably follow. But 2025 has seemingly broken that
Average lithium-ion battery pack price per watt-hour index by region, 2022-2025 - Chart and data by the International Energy Agency.
On a regional basis, average battery pack prices were lowest in China, at $94/kWh. Packs in the US and Europe were 31% and 48% higher, reflecting the relative immaturity of these
On a regional basis, average battery pack prices were lowest in China, at $94/kWh. Packs in the US and Europe were 31% and 48% higher, reflecting the relative immaturity of these
Over recent years, high-scale production and capital investment into the battery production process have made lithium-ion battery packs cheaper and more efficient. This
The average price of cells to pack is considered to be around 70% with a well optimised pack achieving 80%. Using the above values we can replot this as a ratio.
Lithium-ion battery pack prices fell to a record $108/kWh in 2025, fueled by LFP adoption and global competition.
Prices depend on battery chemistry, like LFP or NMC, and geography, such as China or the West. For electric vehicle packs, costs range from $7,000 to $20,000. In mass production of
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