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Ekonomický deník | The price of batteries for electric cars is still three times higher in Europe than in China

Electric vehicle battery prices are being dragged down by the falling value of key metals such as lithium and cobalt, but also by cheap Chinese production, which now dominates global markets. At the same time, China dominates the value chain of key materials and is interested in maintaining this dominance, says Filip Křenek, project coordinator and analyst at EUROPEUM Institute, in an interview with Ekonomický deník.

In the Media

30. October 2024

In Europe, we have seen lithium battery prices fall by around a third over the last four years. This trend can be expected to continue. But it is also important to mention that the average price of batteries in Europe is still roughly three times higher than the cheapest battery in China. It is precisely the cheap Chinese production, which now dominates world markets, that is dragging the average price of batteries down significantly.

Read the full interview here.