Battery Pack Prices Drop Below Key Threshold but China Rules the Market

The global average price of an EV battery pack dropped below the $100 per kilowatt-hour threshold, considered the milestone at which EVs are price-competitive with conventional cars, the International Energy Agency (IEA) said on Wednesday, but noted that China leads both in market share and low prices. Falling battery pack prices and rising demand have ushered in a new phase of development of the global battery market, IEA technology and clean energy analysts wrote in a commentary today. As the average price of a battery pack for a battery electric…