Goldman Sachs has projected battery prices to drop to $80 per kWh by 2026, indicating a significant decline from previous years, suggesting that EV battery replacements could soon be more economical than gas engine repairs.
The analysis suggests that in just three years, EV battery costs have drastically reduced, with estimates for 2030 seeing them range as low as $32-$54/kWh, comparable to gas engine repairs.
According to the study by Recurrent, pack prices for large EV batteries could drop to $4500-$5000, putting costs on par with internal combustion engine replacements, fundamentally changing the economics of vehicle ownership.
Goldman Sachs highlights that the ongoing decline in battery prices could soon mean that replacing an EV battery pack will only cost about 30% of what it did just three years ago, revolutionizing electric vehicle affordability.
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