Evelina Stoikou
Battery technology, supply chain & competitive landscape at BloombergNEF. Views are my own.
- The results from BloombergNEF's 2025 lithium-ion battery price survey are out. Lithium-ion battery pack prices dropped 8% from 2024 to a record low of $108 per kilowatt-hour. Pack prices are now 93% cheaper than they were in 2010.
- What happened? Continued cell manufacturing overcapacity, intense competition and the ongoing shift to lower-cost lithium iron phosphate (LFP) batteries helped drive down pack prices despite an increase in battery metal costs due to supply risks and new export restrictions.
- Battery pack prices were lowest in China at $84/kWh. Prices in North America and Europe were 44% and 56% higher, reflecting higher local production costs and greater reliance on imported batteries which typically come at a premium.
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View full thread⏩ What's next? BNEF expects pack prices to decrease again in 2026, based on its near-term outlook, as raw material prices face upward pressure but adoption of low-cost LFP continues to spread. BloombergNEF clients can access the full report here: www.bnef.com/insights/38167
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