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The cost of EV battery packs has dropped an astounding 90% in the last 15 years [TechSpot]
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According to the Department of Energy’s Vehicle Technologies Office, lithium-ion battery pack costs for EVs have plummeted by an astounding 90% from 2008 to 2023, when adjusted for inflation. In 2023, the estimated cost stood at $139 per kilowatt-hour (kWh) for large-scale production, a dramatic decrease from $1,415 per kWh in 2008.