Charted: Lithium-Ion Batteries Keep Getting Cheaper

By Bruno Venditti – Visual Capitalist Elements

Battery metal prices have struggled as a surge in new production overwhelmed demand, coinciding with a slowdown in electric vehicle adoption.

Lithium prices, for example, have plummeted nearly 90% since the late 2022 peak, leading to mine closures and impacting the price of lithium-ion batteries used in EVs.

This graphic uses exclusive data from our partner Benchmark Mineral Intelligence to show the evolution of lithium-ion battery prices over the last 10 years.