The cost of electric vehicle batteries has dropped sharply in the last five years — a trend likely to continue even as federal incentives disappear, according to new research.
EV sales in the U.S. are expected to slow down after the Trump administration pulled Biden-era support for the industry. But the price of batteries is likely to keep falling, said Alan Jenn, a professor at the University of California, Davis, who is one of the paper’s authors.
“A lot of this is driven by investment into infrastructure that has already happened, and the incremental improvements are likely to happen as demand for the technology grows — even if it is growing slower due to lack of support from the federal government,” Jenn wrote in an email.
The paper — published this month in the journal Nature Reviews — found that the price of batteries has fallen 30 percent worldwide since 2020. The average cost now sits at $110 per kilowatt-hour worldwide and $130 per kWh in the U.S.
