Lithium-ion battery cost to drop to $100/kWh by 2025, Bloomberg New Energy Finance

Published: Dec 14, 2017 15:08

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The average cost of lithium-ion battery set is likely to be halved to $100/kWh by 2025.

SHANGHAI, Dec 14 (SMM)－The average cost of lithium-ion battery set is likely to drop to $100/kWh by 2025, from the current $209/kWh, latest data from Bloomberg New Energy Finance (BNEF) showed.

With continuous development in the battery manufacturing industry and notable economies of scale, BNEF analyst James Frith said that the timing could be even earlier. He added that this would be the turning point for electric vehicles to be used more widely.

Tesla ceo Elon Musk said in 2012 that cost of electric vehicles' battery would be below $200/kWh "in the near future". At the time, the company's battery set had a cost of around $400/kWh.

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