Electric vehicles (EVs) are set to erase the current price advantage of conventional cars when battery pack prices drop to $100 per kilowatt-hour in 2023, BNEF’s new 2020 Battery Price Survey showed on Wednesday. Average battery prices below $100/kWh are widely considered as the tipping point for mass EV adoption. 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 BNEF . “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 earlier this year. In its 2020 Battery Price Survey, BNEF now sees battery pack prices reaching the $100/kWh milestone in 2023, while the current battery price is at an average $126/kWh. “Our analysis shows that even […]