The price of lithium-ion batteries for electric vehicles and energy storage systems (ESS) have fallen by a third in the past year, according to a report by Korea’s Electronic Times.
It reports the price of mid-to-large lithium-ion secondary battery cells dropped from $500-600/kWh last year to $350/kWh. In South Korea, said to be less competitive than the global market, batteries are traded at $400-500/kWh.
