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I thought we are heading towards running out of lithium? Why aren’t battery prices skyrocketing?
It’s almost as if these news outlets don’t know anything about EV economics.
Faster than expected by whom? Not Tony Seba to be sure.
I do auto damage appraisals.
I just went and looked up the list prices on Model Y batteries.
New is $15,750. Reman is now $15,000. Earlier this year the reman was listed @ $9,000 at one point.
Does this mean you can get a new battery for those old Nissan Leafs for cheaper now?
Cars without value
Thanks.
As was expected.
Wow, the submission is 2h old and we already got people mentioning Tony Seba and Cathie Woods.
As Cathie woods pointed out, if you simply double production you get one level of price reduction. If you also work hard on developing the production methods, you get more of a reduction.
Other part of this is that as we get a bigger and better charging infrastructure we don’t need to worry about always expanding range.
It’ll of course happen naturally.
But this can lead the way for smaller more affordable vehicles :)
Double compounding win.
Not even what the article is saying. Title says falling faster than expected, but they rose in 2022 and slightly fell in 2023 but still more expensive than in 2021 and 2020. Than the article shows a graph of expected battery prices in 2024 and onwards…which is the EXPECTED fall.
Poorly written title at best, misleading more likely.
2012 Leaf 24kwh battery had a list price of $12,000, 2022 Bolt 64kwh battery had a list price of $12,400, with inflation you get a battery that costs less and with about triple the range.
That’s how technology works, VCRs were $1000 when they came out, $399 for a dvd player.
A New 24 kWh pack from the Nissan parts department is still around $10,000. Just the part. No markup or I stall labor.
Even the cheapest aftermarket, assembled 40 kWh Leaf battery that is US based is still a minimum of $13,000 installed.
I haven’t priced a 62 kWh Nissan pack at the dealership yet, but my guess is it is closer to $19,000?
If I can walk into the Chevy parts department and buy a 64 kWh pack for only $12,400 I’d be (happily) surprised. Because that doesn’t sound near what my shop was previously quoted. Maybe I’ll have to check tomorrow and report back.
This article is already out of date. They are predicting battery prices to fall by 40% in 2025 compared to 2022 levels. That would be around $90 a KWH. ($150 in 2022) 2023 will probably hit around $90 as a global average.
does this mean big ev price cuts coming?
Big Auto made a HUGE mistake in backpedaling to ICE during the speculator-based price spike of Lithium.
They committed capex for ICE and can’t shut it down. Now are back to lobbying to extend ICE because of their inability to stay on plan with EV.
Byeee