By ESS news
Although the pace of price declines has slowed, lithium-ion battery packs will hit a new record low in 2025. According to the latest analysis from BloombergNEF (BNEF), prices have fallen 8% since 2024 to $108/kWh, making them 93% lower than in 2010.
Despite a rise in battery metal costs, persistent overcapacity in cell production, fierce competition and the continued shift to cheaper lithium iron phosphate (LFP) batteries have helped drive down packaging prices, BNEF’s said 2025 Lithium-ion battery price research.
Battery metal prices rose in 2025 due to supply risks in Chinese lithium operations and new cobalt export quotas in the Democratic Republic of Congo.
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