From ESS News
The rapid decrease in lithium-ion battery prices seen in previous years is likely to slow in 2025 due to an uptick in battery material costs. These will in turn be partly offset by falling manufacturing costs propelled by economy of scale and efficiency gains, resulting in a flatter price trajectory.
Overall, the price drop for lithium-ion battery cells in 2024 was greater compared with that seen in battery metal prices, indicating that margins for battery manufacturers were being squeezed. Therefore, suppliers are expected to push for price increases to mitigate losses with global demand for EVs and energy storage expected to grow in 2025.
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