EV Battery Cost Falls 86% In 14 Years

The decline has been driven by a combination of factors, including technological improvements, economies of scale and increased industrial competition.

Advances in battery chemistry and manufacturing processes, along with the rapid expansion of global production capacity (particularly in China), have significantly reduced costs.

Crossing the $100-per-kWh threshold is widely seen as a turning point for electric mobility. At this level, electric vehicles can reach cost parity with ICE cars without subsidies.

As battery prices continue to fall, the data suggests that EVs are moving closer to mass-market adoption.