On the feeling that battery pack prices may have peaked

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by Jamie Fox , Interact Analysis

Battery pack prices?have fallen tremendously over the years with today’s prices a fraction of where they used to be. However, this trend reversed in 2021 and 2022 due to issues around COVID, the Ukraine war, raw material prices, supply chain issues, and other concerns.

In 2021 we saw NMC battery pack prices of $253/kWh in buses, 2% higher than 2020. Our report in the second half of 2022 projected a 6% increase in 2022, bringing the total cost to $269/kWh. This figure is from our 2022 report that did not have final 2022 data.?

More recent conversations have suggested that the reality may have been higher, probably nearer $278/kWh, although there is significant variation due to various factors such as the strength of the customer relationship, the level of customization required, the size of the order, and other factors.

These NMC prices exclude the value of BMS and thermal/cooling for the battery pack. LFP prices are slightly lower.?

In the first quarter of this year, I’ve been working to understand the latest situation in battery pack prices which will affect both the onroad and offroad market, speaking to battery pack manufacturers, their OEM customers and others that track the battery pack pricing. I’ve been finding that this is a closely watched component, with many people actively tracking it and having an opinion on it. Of course, this makes sense given the high value of the battery pack in relation to other components.

So?what will happen in 2023?

Continue reading on?Sustainable-bus.com

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?? Time for a quote

The U.S. needs to ditch the idea of relying on EVs to mitigate transportation emissions. Instead, the Biden Administration should focus its efforts and investments on light rail and BRT. By pairing public transit routes with new business and housing developments, cities can become more dense, vibrant, and livable. These changes will reduce the overall number of cars on the road, mitigating transportation-related emissions and creating better transit access for Americans

Chicago Policy Review (article?HERE )

?? What about a chart?

Source:?2022 Drive Electric Campaign annual report