A Goldman Sachs study predicts that the cost of electric vehicle batteries is expected to fall by 2026 due to falling prices of metals used in batteries.
Already at the end of September, Lian Yubo, chief scientist and engineer of the BYD brand, specializing in the construction and sale of electric vehicles, predicted faster development and deployment of solid-state batteries within 5 years. These batteries, still in the testing phase, are renowned for being faster at charging and offering more driving autonomy.
Today, a Goldman Sachs study predicts a significant drop in the cost of batteries for electric vehicles within 2 years. The figures are there to prove it. According to the study, global average battery prices fell from $153 per kilowatt hour (kWh) in 2022 to $149 in 2023 and are also expected to fall to $111 by the end of 2024 and reach their price point. the lowest (i.e. 80 dollars per Kilo watt hour) by 2026.
How can we explain such a decline?
Nikhil Bhandari, co-head of research on natural resources and clean energy in Asia-Pacific at Goldman Sachs Research, attributes this significant decline to 2 factors: innovation linked to the structure of batteries with increasingly large cells. larger, and therefore so-called “solid” batteries, and lower raw material costs.
This drop should be felt on new models of electric vehicles, notably the Seal 06 GT from BYD which should be launched in 2025 and cost only €20,000 or the Volkswagen ID.1 which should arrive later but with a price of launch at €20,000 also. On the other hand, the Tesla Model 2 seems to go against the trend and should exceed the €25,000 initially announced.
Enough to encourage new motorists to go electric?
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