EV Battery Cost Predicted to Decline
April 15, 2019—BloombergNEF's advanced transport team predicts that the cost of EV batteries will become cheaper. According to Bloomberg, the team believes the crossover point—when EVs are the cheaper option—is predicted to take place in 2022.
Analysts have described EV batteries as half the vehicle's total cost. The publication reports that in 2015, batteries were 57 percent of the total cost of the vehicle, and this year they're at 33 percent.
Bloomberg predicts that by 2025, the EV battery will be only 20 percent of the total vehicle cost.