How much will a battery cost in 2026?

Goldman Sachs’ researchers further predict that average battery prices could fall as far as $80/kWh by 2026, which would equate to a drop of almost 50 per cent from 2023 levels.

Will EV battery prices drop by 50 percent by 2026?

Global electric vehicle (EV) battery prices could drop by almost another 50 per cent by 2026, according to Goldman Sachs Research, bringing with it the potential of price parity with internal combustion engine (ICE) cars.

How much will battery electric cars cost in 2026?

Our researchers forecast that average battery prices could fall towards $80/kWh by 2026, amounting to a drop of almost 50% from 2023, a level at which battery electric vehicles would achieve ownership cost parity with gasoline-fueled cars in the US on an unsubsidized basis. Source: Company data, Wood Mackenzie, SNE Research, Goldman Sachs Research

How much will EV batteries cost in 2023?

Global average prices for EV batteries have already seen a decline, falling from $153 per kilowatt-hour (kWh) in 2020 to $149 in 2023. This year, prices are expected to drop further to $111 per kWh, and by 2026, they are projected to reach just $80.

How much does a battery cost in 2022?

It says global average battery prices declined from $153 (all prices in USD) per kilowatt-hour (kWh) in 2022 to $149/kWh in 2023 and are projected to fall to $111 by the end of 2024.

Will EV batteries resurgence start in 2026?

However, Goldman Sachs Research is forecasting a resurgence in consumer demand that will "largely begin" by 2026. Global average prices for EV batteries have already seen a decline, falling from $153 per kilowatt-hour (kWh) in 2020 to $149 in 2023.