Between 2008 and 2023, the estimated cost of a light-duty electric vehicle's lithium-ion battery pack plummeted by 90%... from a whopping $1,415/kilowatt-hour... to a much more palatable $139/kWh last year.
Goldman Sachs estimates a further 40% decline in battery prices between 2023 and 2025... This opens the door for much more affordable EVs that will finally undercut their gasoline counterparts and turn a profit for their makers.
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