Li-ion battery prices for electric cars are down 19 percent from 2019. According to a BloombergNEF industry study, it has been reported that the average cost of a lithium-ion battery fell to $137 per kWh (kilowatt-hour) by 2020. This is a 13 percent price reduction from the same period in 2019, and 88 percent from 2010, when the price was $1,100 per kWh.
Li-ion battery prices for electric cars are down 19 percent
Obviously, this is of little importance to the mobile device consumer, as this price reduction mainly affects the growing electric car industry (much larger batteries), which will allow a key part of these vehicles to drop in price to make them more and more affordable.
BloombergNEF projects that battery prices will fall to $58 per kWh in 2030 and $44 per kWh in 2035. From that point on, we should begin to see electric vehicles with prices comparable to traditional vehicles with combustion engines without any kind of subsidy for their purchase, so it is to be expected that by that time we will see how a large number of the population will switch to electric vehicles because of the benefits they bring: they are very economical to recharge and require much less maintenance than a conventional vehicle, so they are all benefits and a great economic saving in the short term.