New ultra-high battery price

How much will a battery cost in 2026?

Its researchers forecast that average battery prices could fall towards $80/kWh by 2026, amounting to a drop of almost 50% from 2023. That is a level at which battery-electric vehicles would achieve ownership cost parity with gasoline-powered cars in the US on an unsubsidized basis, it said.

Is Hyundai developing ultra-high capacity LFP batteries for electric vehicles?

Korean Car Blog says that it learned from industry sources on October 13th that Hyundai Motor Group is collaborating with domestic battery partners to develop ultra-high capacity LFP batteries for electric vehicles. Currently, Chinese manufacturers supply lithium iron phosphate batteries with capacities in the mid to high 200 Wh/kg range.

Will BYD reduce the cost of EV batteries?

The sources claimed that BYD plans to reduce the cost of the higher energy density unit by 15% compared to the current Blade battery, which offers around 150 Wh/kg energy density. “Everybody talks about the EV automaker price war, but no one talks about the battery makers price war, which is even more brutal,” the source said.

Who makes the world's most electric-vehicle batteries?

The Chinese battery manufacturer, which produced 37% of the world’s electric-vehicle batteries and 43.4% of energy storage batteries in 2022 for a grand total of 289 GWh, has made groundbreaking product announcements in recent years.

How much does a lithium battery cost in China?

It’s a key step in BYD’s expansion into stationary energy storage. Lithium-ion battery prices have dropped significantly, with the price of LFP (Lithium Iron Phosphate) packs in China falling 50% since 2023, now priced around $75/kWh.

Will EV battery prices fall 50% by 2026?

According to Goldman Sachs Research, average global EV battery prices are expected to fall 50% by 2026 compared to 2023 levels. Goldman forecasts the average battery price could fall to $80/kWh, down from $149 in 2023. At that level, EVs “would achieve ownership cost parity with gasoline-fueled cars in the US on an unsubsidized basis.”