How scale reduced battery costs but exposed auto companies to greater raw material pricing risks

Benchmark Mineral Intelligence’s (Benchmark) data shows that the average price of a lithium ion cell decreased at an annual rate of -17.8% between 2010 and 2020, from $780/kWh in 2010 to $110/kWh (large contract automotive) in 2020. With the global expansion of battery megafactories and the subsequent scaling up of battery production capacity, cell costs […]