The price of the batteries that power electric vehicles has fallen by about 90 percent since 2010, a continuing trend that will soon make EVs less expensive than gasoline vehicles.
This week, with battery pricing figures for 2021 now available, I wanted to get a better idea of what the near future will look like.
First, the numbers: The average price of lithium-ion battery packs fell to $132 per kilowatt-hour in 2021, down 6 percent from $140 per kilowatt-hour the previous year, according to the annual battery price survey from BloombergNEF. The new average is a step closer to the benchmark of $100 per kilowatt-hour, which researchers say is the approximate point where EVs will cost about the same as gasoline-powered vehicles.
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