Goldman Sachs researchers project lithium-ion battery pack prices will drop to $82 per kilowatt-hour by 2026, achieving cost parity with gasoline vehicles on total ownership basis.
The decline in battery prices is driven by improved technology and lower input costs, which are essential for encouraging Americans to switch from gas cars to electric vehicles.
The battery prices are expected to fall significantly from $780/kWh in 2013 to $82/kWh in 2026, marking a crucial milestone for EVs aiming for affordability.
While new models like the $35,000 Chevy Equinox EV are emerging to bridge the price gap, traditional auto companies still face profit challenges in the EV market.
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