Pack prices fall to US$115/kWh in 2024
December, as ever, marked the publication of BNEF’s annual lithium-ion battery price survey and this year there were more interesting takeaways. This year’s survey concluded that the volume-weighted average pack price was US$115/kWh, a 20% y/y drop, and that was the biggest y/y drop since 2017. Improvements in cell manufacturing tech, scale and the ongoing shift to LFP have all contributed to the change, as have low raw material prices. The average cell price was just US$78/kWh. BNEF flagged that BEV average pack prices hit US$97/kWh in 2024. While this is great to see – being below the US$100/kWh “price...
Topics
Batteries
BNEF
Cell price
China
ESS
Europe
EVs
LFP
overcapacity
Pack price
Ternary
US
