Electric vehicle battery costs have fallen more than 10-fold
Over the past 15 years, the cost of lithium-ion batteries for electric vehicles in the United States has decreased more than 10 times. If in 2008, when electric vehicles were still exotic, one kilowatt-hour of battery capacity cost 1415 USD, then by 2023 this figure dropped to 139 USD thanks to scaling of production and technological breakthroughs. This is reported by auto.ru.
The most significant price reduction was observed between 2009 and 2013, when the first mass-produced electric vehicles began to appear on the market. The analytical firm Gartner predicts that by 2027 the cost of producing electric vehicles will be equal to that of their gasoline counterparts.
As battery prices have fallen, so too has the overall cost of owning an electric vehicle in the U.S. In most states, electric car owners are already spending less to operate their vehicles than owners of gasoline models, according to J.D. Power.
