Goldman Sachs, the average battery price has declicned from $153 per kWh in 2022 to $149 in 2023 and projects these prices to fall to $111 by the end of this year.
By 2026, packaging innovations and cost of materials are noted as the major drivers for the drop in pricing as well as leading to higher pack densities and lower overall battery pack weight savings.
Of special note is Goldman expects 2026 to bring “ownership parity” and expects there will be a “comeback in demand” for EVs.