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Market Update: How Battery Pack Costs Declined Since 2008

Blink Charging

NOVEMBER 2, 2023

The US Department of Energy’s Vehicle Technologies Office reported a remarkable 89% decrease in the cost of electric vehicle lithium-ion battery packs between 2008 and 2022. In 2008, the cost per kilowatt-hour (kWh) was $1,355, but by 2022, it had dropped to $153 per kWh.

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2008 Market Lithium Ion Batteries 52
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Obama Administration launches series of actions to accelerate EV adoption; inc. $4.5B in loan guarantees, pursuing 350 kW fast charge

Green Car Congress

JULY 21, 2016

During past eight years the number of plug-in electric vehicle models has increased from one to more than 20, battery costs have decreased 70%, and the number of electric vehicle charging stations has increased from less than 500 in 2008 to more than 16,000 today—a 40-fold increase. Georgia Power. Southern Company: Georgia Power.

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Obama Charging Financing DC 150
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