Research by the Department of Energy’s (DOE) Vehicle Technologies Office estimates the cost of an electric vehicle lithium-ion battery pack declined 87% between 2008 and 2021 (using 2021 constant dollars).
The 2021 estimate is $157/kWh on a usable-energy basis (the equivalent of $143/kWh on a rated-energy basis) for production at scale—i.e., 100,000 units per year. That compares to $1,237/kWh on a usable-energy basis in 2008.
The decline in cost is a combination of improvements in battery technologies and chemistries, and an increase in manufacturing volume.
*2021 is estimated. Source: DOE