Study: Battery Pack Costs Fell 14 Percent Annually Over Seven Years

Though the most expensive part of an EV or PHEV is its battery pack, a new study shows those costs are falling at a hefty clip.

According to Green Car Reports, a study by the Stockholm Environment Institute in Stockholm, Sweden found that the cost of a battery pack fell 14 percent per year between 2007 and 2014, coming down from over $1,000 USD per kWh, to around $410/kWh; market-leading EV makers saw their costs decline 8 percent annually to $300/kWh over the same period.

The study's findings are the result of data from 85 cost estimates found in peer-reviewed academic journals, as well as reports from automakers, analysts and the media. However, the authors note that since battery producers and automakers almost never disclose the actual costs for those cells, the study is incomplete at best.

The post Study: Battery Pack Costs Fell 14 Percent Annually Over Seven Years appeared first on The Truth About Cars.

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