The Department of Energy’s (DOE’s) Vehicle Technologies Office estimates the cost of an electric vehicle lithium-ion battery pack declined 89% between 2008 and 2022 (using 2022 constant dollars). The 2022 estimate is $153/kWh on a usable-energy basis for production at scale of at least 100,000 units per year. That compares to $1,355/kWh in 2008. The decline in cost is due to improvements in battery technologies and chemistries, and an increase in manufacturing volume.
Note: Cost refers to usable energy and not rated energy.
Sources: 2018–2022 – U.S. DOE, Vehicle Technologies Office, using Argonne National Laboratory’s BatPaC: Battery Manufacturing Cost Estimation Tool
2017 – Steven Boyd, DOE, Vehicle Technologies Office, 2017 Annual Merit Review, Batteries and Electrification R&D Overview, June 18, 2018, PowerPoint presentation, p. 7.
2016 – David Howell, DOE, Vehicle Technologies Office, 2017 Annual Merit Review, Electrochemical Energy Storage R&D Overview, June 20, 2017, PowerPoint presentation, p. 6.
2008–2015 – National Academies of Sciences, Engineering, and Medicine 2017. Review of the Research Program of the U.S. DRIVE Partnership: Fifth Report. Washington, DC: The National Academies Press, p. 173.