{"id":194138,"date":"2024-08-06T14:26:22","date_gmt":"2024-08-06T19:26:22","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2024\/08\/ev-costs-on-track-to-match-gas-guzzlers-next-year-as-battery-prices-drop-dramatically"},"modified":"2024-08-06T14:26:22","modified_gmt":"2024-08-06T19:26:22","slug":"ev-costs-on-track-to-match-gas-guzzlers-next-year-as-battery-prices-drop-dramatically","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2024\/08\/ev-costs-on-track-to-match-gas-guzzlers-next-year-as-battery-prices-drop-dramatically","title":{"rendered":"EV costs on track to match gas guzzlers next year as battery prices drop \u2018dramatically\u2019"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/ev-costs-on-track-to-match-gas-guzzlers-next-year-as-battery-prices-drop-dramatically2.jpg\"><\/a><\/p>\n<p>The higher <a class=\"\" href=\"https:\/\/www.autoblog.com\/cars-compare\/\" data-ylk=\"elm: context_link;itc:0;pos:1;sec: donut-hole;cpos:0;\">cost of owning<\/a> an electric versus a gas-powered vehicle is a sticking point for many would-be buyers of EVs. Now, the price of a key EV component is falling, raising hopes that automakers could close the gap as they grapple with waning demand.<\/p>\n<p>Batteries make up about one-third to one-fourth of the cost of producing an <a class=\"\" href=\"https:\/\/www.autoblog.com\/electric\/\" data-ylk=\"elm: context_link;itc:0;pos:1;sec: donut-hole;cpos:1;\">electric vehicle<\/a>, according to Goldman Sachs analysts. The firm <a href=\"https:\/\/www.goldmansachs.com\/intelligence\/pages\/even-as-ev-sales-slow-lower-battery-prices-expect.html\" data-i13n=\"cpos:1;pos:1\">predicts<\/a> the global average cost to automakers for <a class=\"\" href=\"https:\/\/www.autoblog.com\/tag\/battery\/\" data-ylk=\"elm: context_link;itc:0;pos:1;sec: donut-hole;cpos:3;\">batteries<\/a> in 2024 will average about $115 per kilowatt hours, about 23% lower than last year. Prices are expected fall another 20% in 2025.<\/p>\n<p><a class=\"\" href=\"https:\/\/www.autoblog.com\/tesla\/\" data-ylk=\"elm: context_link;itc:0;pos:1;sec: donut-hole;cpos:4;\">Tesla<\/a> CEO <a class=\"\" href=\"https:\/\/www.autoblog.com\/tag\/elon+musk\/\" data-ylk=\"elm: context_link;itc:0;pos:1;sec: donut-hole;cpos:5;\">Elon Musk<\/a> (<a href=\"https:\/\/finance.yahoo.com\/quote\/TSLA\" data-i13n=\"cpos:2;pos:1\">TSLA<\/a>) recently noted costs have come down for lithium-ion cells used in EV batteries, a big reversal from the \u201cmassive spike\u201d during the pandemic when car manufacturers put in \u201cgiant, giant orders.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The higher cost of owning an electric versus a gas-powered vehicle is a sticking point for many would-be buyers of EVs. Now, the price of a key EV component is falling, raising hopes that automakers could close the gap as they grapple with waning demand. Batteries make up about one-third to one-fourth of the cost [\u2026]<\/p>\n","protected":false},"author":367,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2019,17],"tags":[],"class_list":["post-194138","post","type-post","status-publish","format-standard","hentry","category-biotech-medical","category-elon-musk","category-sustainability"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/194138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/367"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=194138"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/194138\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=194138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=194138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=194138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}