From ESS News
While the pace of price decreases has slowed, lithium-ion battery packs have reached a new record low in 2025. According to the latest analysis by BloombergNEF (BNEF), prices have fallen 8% since 2024 to $108/kWh, making them 93% lower than in 2010.
Despite an increase in battery metal costs, continued cell manufacturing overcapacity, intense competition and the ongoing shift to lower-cost lithium iron phosphate (LFP) batteries helped drive down pack prices, according to BNEF’s 2025 Lithium-Ion Battery Price Survey.
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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