The Cost of Making An Electric Car Battery

As the battery is the heart of an electric vehicle, it is also one of the highest
costs. The cost of making an electric vehicle battery is determined by its
capacity in kilowatt-hour, which dictates its range and the motor's power level that it supplies. The vast majority of electric vehicles uses lithium-ion battery pack, and the price has fallen by 89% from $1,100 per kilowatt-hour in 2010 to $137/kWh in 2020. According to analysis, by 2023, the prices will be close to $100/kWh. So the drop in the cost of lithium will continue to drive the cost of producing vehicle batteries down.