For the first time, the price of battery packs has fallen below 100 dollars per kilowatt hour. For the time being, however, this only applies to the manufacture of electric cars in China.
In just one year, the price of the cheapest cobalt-free LFP batteries with iron phosphate chemistry has dropped by more than half. 51 percent to be exact.
This means that electric cars are theoretically cheaper than petrol cars. At least in manufacturing. However, the dramatic development in the price of battery packs only applies in China.
This is written by the financial media Bloomberg .
According to the media, there are mainly two reasons why the battery packs have become cheap to produce. Firstly, the raw material prices for the minerals that must be used in the manufacture of the battery have plummeted.
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On the other hand, the battery manufacturers have a greater capacity and thus production than is currently sought after.
However, this does not mean that consumers will get cheaper electric cars. At home, a tariff on Chinese electric cars means that several car brands have raised their prices. And those who haven't are keeping the price at a level where the margin is still huge.
Back in April, Boosted could tell that some car brands charge almost 200 percent more for their cars in Europe than is the case at home in China.
At the same time, according to a German investigation, it has been proven that the Chinese dictatorship pumps billions of kroner in the form of illegal state subsidies into the country's car brands.
The price pressure from China, where according to Bloomberg the battery factories are only operating at 43 percent of capacity, is extremely bad news for all other battery manufacturers.
One of the companies feeling the pressure is South Korean SK On. Here, the director has declared a state of emergency, because economically speaking you have your back against the wall. Read more about it here .
Read more exciting news from and about the world of cars right here
