Rapidly falling costs of battery packs for electric vehicles

Summary

According to this study, the days of affordable electric vehicle batteries may arrive sooner than experts predicted. Research has EV battery costs already lower than they were expected to be in 2020. The researchers delved into battery costs for vehicle manufacturers between 2007 and 2014, charting the decline from $1,000 per kWh to around $300 per kWh in recent figures for the top companies — a number that was expected to be years away for automakers and battery producers. A benchmark of $230 per kWh was even considered feasible by as early as 2017.