“Battery pack prices are now expected to fall by an average of 11% per year from 2023 to 2030.”
Goldman now sees $99 per kWh by 2025, down 40 percent from 2022, and EVs at cost parity with gas cars without subsidies around mid-decade. Almost half the drop comes from cheaper lithium, nickel and cobalt. Its “hyper adoption” case has EVs at 86 percent of sales by 2040. Half of this forecast is a bet that mining prices stay down.