Cheaper battery prices expected
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Battery costs are likely to continue to fall
Although battery demand is growing, it is doing so more slowly than expected. Between 2025 and 2035, it will be 8 % below the earlier forecast – a decrease of 3.4 TWh, mainly due to falling EV sales in the USA. This leads to overcapacities, especially in China, where the utilization of battery factories is below 50 %. This development is likely to further depress battery costs and intensify competition. In the long term, however, growth in battery metals remains strong.
Most drivers can charge at home for less than the cost of gasoline. The expansion of private solar energy will therefore also help to further reduce prices.