Average battery prices for passenger EVs are now below $100/kWh, often seen as the threshold for price parity with ICEs. Some EVs have achieved it, but this varies by region, segment and automaker.

Battery pack prices were lowest in China at $94/kWh, while US and Europe prices were 31% and 48% higher due to market immaturity, higher costs and lower volumes. The gap was wider than in previous years, implying that the price drop was more accentuated in China.

The results from BloombergNEF's 2024 lithium-ion battery price survey are out. Lithium-ion battery pack prices dropped 20% from 2023 to a record low of $115 per kilowatt-hour. This is the largest decline observed in our survey since 2017. 🧵⬇️