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BloombergNEF’s annual battery price survey finds prices increased by 7% from 2021 to 2022 New York, December 6, 2022 – Rising raw material and battery component prices and soaring inflation have led to the first ever increase in lithium-ion battery pack prices since BloombergNEF (BNEF) began tracking the market in 2010.
After more than a decade of declines, volume-weighted average prices for lithium-ion battery packs across all sectors have increased to $151/kWh in 2022, a 7% rise from last year in real terms. The upward cost pressure on batteries outpaced the higher adoption of lower cost chemistries like lithium iron phosphate (LFP).
For battery electric vehicle (BEV) packs in particular, prices were $138/kWh on a volume-weighted average basis in 2022. At the cell level, average BEV prices were just $115/kWh. This indicates that on average, cells account for 83% of the total pack price.
Turmoil in battery metal markets led the cost of Li-ion battery packs to increase for the first time in 2022, with prices rising to 7% higher than in 2021. However, the price of all key battery metals dropped during 2023, with cobalt, graphite and manganese prices falling to lower than their 2015-2020 average by the end of 2023.
Soaring prices of battery metals such as lithium, cobalt and nickel and higher component costs pushed battery pack prices up to $151 per kilowatt hour, a 7 per cent rise compared with a year ago and the first increase since BloombergNEF began its annual survey in 2010. The company expects prices to rise further to $152 per kWh next year.
This analysis is part of Hyperdrive, a series devoted to the future of cars. It appeared first on Bloomberg.com. Falling battery prices have been one of the most consistent trends in the electric vehicle industry for the last decade. Prices dropped from well over $1,000 per kilowatt hour in 2010 to $141 per kWh last year.
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After more than a decade of declines, volume-weighted average prices for lithium-ion battery packs across all sectors have increased to $151/kWh in 2022, a 7% rise …
Rising raw material and battery component prices and soaring inflation have led to an increase in lithium-ion battery pack prices, according to a recent survey from …
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After more than a decade of declines, volume-weighted average prices for lithium-ion battery packs across all sectors have increased to $151/kWh in 2022, a 7% rise …
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Soaring prices of battery metals such as lithium, cobalt and nickel and higher component costs pushed battery pack prices up to $151 per kilowatt hour, a 7 per cent rise …
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