Battery costs comprise a significant portion of the cost of an electric vehicle. S&P Global Platts estimates that battery costs typically constitute 25-30% of electric vehicle costs, but could go as high as 50% of overall costs of a new electric vehicle. If battery costs continue to accelerate rapidly, they could pump the brakes on electric vehicle sales in price-sensitive markets such as the US and Western Europe.
To learn more about how demand and cost for battery metals is impacting battery chemistries, download S&P Global Platts' report.
© Energy Magazine