Lithium-Ion Batteries Keep Getting Cheaper

What We’re Showing

The price of lithium-ion batteries over the last ten years. This data comes exclusively from Benchmark Mineral Intelligence as of September 2024. 

Key Takeaways 

• The price of lithium-ion battery cells declined from an average of $290 per kilowatt-hour in 2004 to $103 in 2023.
• Lithium prices are expected to tumble even further in 2024 due to oversupply from China and a softening of electric vehicle (EV) adoption rates.