Tuesday, November 28, 2023
Falling battery prices push EVs to ICE price parity
Battery prices for electric vehicles fell 14% to $139/kWh in 2023 compared with $161/kWh in 2022, driven by lower raw material costs and global oversupply, according to price tracking data from BloombergNEF. BNEF predicts prices will continue to track falling raw material cost trends and drop to $133/kWh in 2024 and below $100/kWh by 2027, with EVs reaching price parity with combustion engine vehicles
