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Transforming Lithium-ion Battery Manufacturing

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Transforming Lithium-ion Battery Manufacturing

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Li-ion batteries were first introduced some 30 years ago, they were very expensive. Even just ten years ago, the cost per kilowatt-hour (kWh) of a Li-ion battery was several hundred US dollars. But since then, prices have fallen dramatically. Many believe that a major breakthrough in widespread adoption will occur when prices fall below $100/kWh, as this is the price point where the cost of EVs will start to match that of traditional internal combustion engine cars. Industry is on the path to reaching $100/kWh-despite a price increase in 2022 that was likely caused by rising costs of raw materials and components and overall inflation-but there is still much work to do to reach that goal. Looking beyond this milestone, some even foresee levels down to $60/kWh.

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