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Automakers

Rising battery prices threaten affordable EV push

Battery pack BL web.jpg
Lithium ion batteries depend on increasingly expensive components, including cobalt, nickel and lithium in their construction. (BLOOMBERG)
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By:
Bloomberg
December 07, 2022 09:47 AM

Falling battery prices have been one of the most consistent trends in the electric vehicle industry for the last decade. Prices dropped from well over $1,000 per kilowatt hour in 2010 to $141 per kWh last year.

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