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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":714,"relatedVideos":715},112468683903710,"326ae3d5-05ed-41b5-bc16-eadb58fc9f0e","Battery cell prices reach all time low in September as LFP falls below $60 per kWh level","battery-cell-prices-reach-all-time-low-in-september-as-lfp-falls-below-60-per-kwh-level","article/battery-cell-prices-reach-all-time-low-in-september-as-lfp-falls-below-60-per-kwh-level",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":687,"featured":51,"reporter":688,"_editable":692,"component":693,"seo_title":543,"categories":694,"visibility":707,"author_company":49,"featured_image":708,"seo_description":687,"author_full_name":49,"author_job_title":49,"formattedDate":712,"formattedArticleDate":713},"c633a0f2-e0e8-4a22-9d0d-f9013aeef93a","2024-10-24 00:00",[550],{"slug":551,"name":552},"battery-prices","Battery Prices",[554],{"slug":555,"name":556,"content":557},"didi-bostock","Didi Bostock",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Editor - Energy Transition & Economics",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":564,"content":565},"doc",[566,583,588,598,605,610,615,640,645,654,667,677,682],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,581],{"text":571,"type":572},"Global battery cell prices fell to an all time low in September, led by lithium iron phosphate (LFP) cell prices slipping below $60 per kilowatt hours (kWh) for the first time in over three years amid a continued rout in ","text",{"text":574,"type":572,"marks":575},"raw material prices",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://www.benchmarkminerals.com/","url",{"text":582,"type":572},".",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"“Prices will likely drop a little further on average, but already LFP battery cells have and are actively being purchased in instances at agreed prices around $50/kWh,” said Evan Hartley, research manager at Benchmark.",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591,596],{"text":592,"type":572,"marks":593},"Low cell prices",[594],{"type":577,"attrs":595},{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},{"text":597,"type":572}," are critical for the energy transition in terms of improving consumer access to electric vehicles (EVs) and large scale energy storage projects. However, they also put pressure on producers’ profitability, which could hinder the transition.",{"type":599,"attrs":600,"content":602},"heading",{"level":601,"textAlign":49},4,[603],{"text":604,"type":572},"Low cost LFP cells lead the price drop",{"type":567,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":572},"LFP cells are currently priced 14% lower than the nickel, cobalt, manganese (NCM) cells.  ",{"type":599,"attrs":611,"content":612},{"level":601,"textAlign":49},[613],{"text":614,"type":572},"Global cell prices dip to record lows at under $70 per kWh",{"type":567,"attrs":616,"content":617},{"textAlign":49},[618,623,625,631,633,638],{"text":619,"type":572,"marks":620},"Global average cell prices",[621],{"type":577,"attrs":622},{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},{"text":624,"type":572}," for lithium ion cells have declined 16.8% so far this year to $66.5 per kWh at the end of the assessment period in September, according to the ",{"text":626,"type":572,"marks":627},"Benchmark Lithium ion Battery Cell Price Assessment",[628],{"type":577,"attrs":629},{"href":630,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://www.benchmarkminerals.com/lithium-ion-batteries/data-reports/price-assessments",{"text":632,"type":572},". Prices ",{"text":634,"type":572,"marks":635},"dipped below the key $100 per kWh mark",[636],{"type":577,"attrs":637},{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},{"text":639,"type":572}," over a year ago, according to Benchmark data.",{"type":567,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":572},"“The low price environment for raw materials persisting across 2023 and 2024 has driven cell prices to new lows, but equally the considerable improvements in energy density, and the maintained R&D efforts in improving cell specs mean that the price continues to fall on a per kWh basis,” said Hartley.",{"type":567,"attrs":646,"content":647},{"textAlign":49},[648],{"type":649,"attrs":650},"image",{"id":49,"alt":651,"src":652,"title":49,"source":49,"copyright":49,"meta_data":653},"","https://a.storyblok.com/f/287943243085208/cdf483ac55/bm-global-cell-prices-1.png",{},{"type":567,"attrs":655,"content":656},{"textAlign":49},[657,659,665],{"text":658,"type":572},"Passenger EVs currently account for the largest share for lithium ion batteries. Light-duty battery EV and plug-in hybrid electric vehicle (PHEV) sales are expected to reach 23 million units by 2025 from 17.3 million this year on a base case scenario, according to the ",{"text":660,"type":572,"marks":661},"Benchmark Lithium ion Battery Database",[662],{"type":577,"attrs":663},{"href":664,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://www.benchmarkminerals.com/lithium-ion-batteries/data-reports/forecast",{"text":666,"type":572},". That represents a penetration rate of 26% and 20% respectively.",{"type":567,"attrs":668,"content":669},{"textAlign":49},[670,672,676],{"text":671,"type":572},"Global cell supply is expected to reach around 1.47 terawatt hour (TWh) this year, according to the ",{"text":660,"type":572,"marks":673},[674],{"type":577,"attrs":675},{"href":664,"uuid":49,"anchor":49,"target":49,"linktype":580},{"text":582,"type":572},{"type":599,"attrs":678,"content":679},{"level":601,"textAlign":49},[680],{"text":681,"type":572},"Raw material price rout continues",{"type":567,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":572},"Battery raw material prices have extended their declines this year as a mix of supply glut, overcapacity and sluggish demand continued to push prices lower.","Global battery cell prices fell to an all time low in September, led by lithium iron phosphate (LFP) cell prices slipping below $60 per kilowatt hours (kWh) for the first time in over three years amid a continued rout in raw material prices. “Prices will likely drop a little further on average, but already LFP […]",[689],{"slug":555,"name":556,"content":690},{"job_title":558,"image":691,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"c633a0f2-e0e8-4a22-9d0d-f9013aeef93a\", \"id\": \"\"}-->","article",[695,698,701,704],{"slug":696,"name":697},"batteries","Batteries",{"slug":699,"name":700},"critical-minerals","Critical Minerals",{"slug":702,"name":703},"ev","EV",{"slug":705,"name":706},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":651,"name":651,"focus":651,"title":651,"source":651,"filename":709,"copyright":651,"fieldtype":710,"meta_data":711,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/80123b71be/bm-featured-image-top-lithium-ion-battery-producers-inforgraphic.jpg","asset",{"alt":651,"title":651,"source":651,"copyright":651},"Oct 24, 2024","24th October 2024",[],[],1781280260366]