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InsideEVs

Technology

BIZARRE: Ev batteries got 20 cheaper last year - What They Never Told You

China International Energy Agency EVS European IEA

Prices for lithium-ion battery packs fell 20% in 2024, the largest drop since 2017, according to a study from the International Energy Agency (IEA).
Cheaper batteries mean cheaper EVs, and electric cars and trucks remain the main driver of battery demand.
China’s price advantage is widening over the rest of the world.

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