• ARTICLENew Record Lows for Battery PricesClean Transport ARTICLENew Record Lows for Battery PricesClean Transport ARTICLE New Record Lows for Battery Prices Clean Transport December 19, 2025By Colin McKerracher, Head of Clean Transport, BloombergNEF December 19, 2025By Colin McKerracher, Head of Clean Transport, BloombergNEF December 19, 2025 By Colin McKerracher, Head of Clean Transport, BloombergNEF Death, Taxes and…Some trends in the auto sector can be counted on year-in, year-out: Americans will keep buying big pickup trucks, SUVs will continue to take market share around the world, and Toyota will insist fuel cell vehicles are just around the corner.Add to that list,falling battery prices.Lithium-ion battery prices dropped again in 2025, with average prices coming down 8% to $108 per kilowatt-hour, according to BloombergNEF’s annual price survey.China still leadsChina’s lead in low battery prices continued in 2025, with average prices in the country dropping 13% to $84/kWh. • This is due to a combination of lower input costs, overcapacity, intense price competition and preference for lower-cost lithium iron phosphate (LFP) cells.Prices in North America and Europe were 44% and 56% higher, which is a big part of why EVs in those regions still cost more than their combustion counterparts. • In China,price parityhas already been achieved in almost all vehicle segments.This year, the lowest observed cell and pack prices were just $36/kWh and $50/kWh, respectively. • These were for LFP batteries going into stationary storage applications. • Similar lows were observed last year, which indicates these price levels are no longer extreme outliers.BNEF has been doing this price survey for 15 years now, and each year when the top-line number lands, there’s a steady stream of commentary attributing the drop to producers slashing margins. • Marginsdiddip slightly in the first half of this year, but that alone doesn’t fully account for the drop.

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  • By Colin McKerracher, Head of Clean Transport, BloombergNEF Death, Taxes and… Some trends in the auto sector can be counted on year-in, year-out: Americans will keep buying big pickup trucks, SUVs will continue to take market share around the world, and Toyota will insist fuel cell vehicles are just around the corner. Add to that list, falling battery prices. Lithium-ion battery prices dropped again in 2025, with average prices coming down 8% to $108 per kilowatt-hour, according to BloombergNEF’s annual price survey. China still leads China’s lead in low battery prices continued in 2025, with

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