Lithium-ion battery price 2025 — Trends and forecast

EV batteries account for 30-40% of the total cost of an electric vehicle which makes an EV less The affordable than a comparable internal combustion engine (ICE) vehicle. The price of an EV battery and how it can be brought down has been a topic of interest for the automotive industry for a long time.

Over the decade, the cost of batteries have fluctuated owing to several factors including price of critical raw material the steadiness of the supply chain, EV demand and policies. The ‘Lithium-ion battery price 2025 — Trends and forecast’ report aims to forecast the evolution of battery prices by analyzing the historical data while considering these factors that could impact the pricing to project how the Li-ion battery prices would move over the next decade.

While comparing costs across regions and for different chemistries, we have developed a new tracker where we simulate the cost of cell production plants at 30GWh. This will allow a more accurate comparison as it removes the variation in prices owing to plant size and suppliers. Wherever the cost of a cell has been calculated with this method, it will be highlighted by referring to it as “demo gigafactory."

However, there are also unforeseen factors, especially of a geopolitical nature, or natural disasters that can significantly impact the materials and battery industry, altering the price trend.