Analysts have estimated that battery pack prices should drop to US$100/kWh so that electric vehicles have a chance to compete with cost with the internal combustion engine. Automakers and industry experts believe that the US$100/kWh milestone could be reached as early as in 2024, or even sooner—and that milestone will unleash the electric vehicle revolution. Lithium-ion battery pack prices have declined by 87 percent from 2010 to 2019, with the volume-weighted average hitting US$156/kWh last year, according to estimates from BloombergNEF . “By 2024, battery pack prices go below $100/kWh on a volume-weighted average basis, driven in part by the introduction of new cell chemistries and manufacturing equipment and techniques,” BNEF said in its Electric Vehicle Outlook 2020. By 2030, battery pack prices are expected to reach US$61/kWh, BNEF has estimated, although high levels of investment will be needed to keep prices falling. The US$100/kWh milestone has been considered […]