The price of a lithium-ion battery pack used to power an electric vehicle has plunged 89% in the last decade. It could drop even further in the next couple of years, allowing automakers to manufacture mass-market electric vehicles for the same cost as ones that run on petrol. About a decade ago, the cost of a lithium-ion battery pack was around $1,110 per kilowatt-hour. That figure now stands at roughly $137 per kilowatt-hour, and likely to plunge to about $100 per kilowatt-hour in the next couple of years, said Fast Company , citing a new clean energy report from Bloomberg. “If you look at the remarkable cost reduction over the last decade, and what’s expected over the next few years, and pair that with escalating policy measures in Europe and expected in the U.S. and China, then you have this very powerful combination of factors to underpin EV uptake, […]