High prices remain a major obstacle to the spread of electric cars around the world. But it must be said that over time the price lists of battery-powered cars have dropped significantly: a recent study conducted by the Office of Vehicle Technologies of the Department of Energy, better known as DOEsuggests that the cost of electric vehicle batteries has dropped by a huge amount 90% between 2008 and 2023, making it easier for automakers to bridge the price gap between combustion-engined vehicles and EVs.
Battery Improvement
A slow and progressive decline but constant of battery production costs as has happened in the last fifteen years, and factors There are several: improvements in battery technologies and chemicals, new manufacturing processes, significant increases in production volumes, and more.
Production costs are falling
In particular, the cost of a lithium-ion battery has dropped, according to the DOE. from $1,415/kWh in 2008 to $139/kWh in 2023. The difference, Carscoops points out, is not that dramatic if you take into account fifteen years of inflation, with the original cost dropping to about $1,000 if adjusted to the current value of the American currency. Even so, the drop in costs is quite impressiveespecially in the time range from 2009 to 2013.
ICE and EV: when will we reach parity?
A concrete example? The 81 kWh battery of the Tesla Model Y would cost $114,615 in 2008, compared to $11,259 in 2023. More than ten times less today, so to speak. Good news then, also because the automakers predict that the costs of batteries will continue to decrease in the coming years, making electric vehicles accessible to an ever-wider audience of customers. As for price parity between electric and ICE cars, many companies have predicted that it will be reached by the end of the decade.
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