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EV Battery Cost Competitiveness and Price Parity: Global Trends and Implications for India

Urvi Samant, Ravikiran Garje

Abstract



Geopolitical strategies and insecurities over minerals like oil have highlighted the increasing dependence on resources for growth. This paper sheds light on how resources for electric vehicle (EV) batteries also affect international trade. We see, lithium-ion batteries'price is declining, while sodium-ion batteries are emerging, in both cases China leads globally. The year 2025 showcases an inflection point, which is an important landmark in the global EV transition as lithium-ion battery costs cross the long-awaited barrier for price difference with internal combustion engine (ICE) cars. The aspects of battery cost competitiveness in 2025 are explained in this paper: (i) technological drivers achieving breakthrough with the $100 (kWh) cost for lithium-ion battery (ii) existence of price differences between Western economies and China; (iii) inference for EV-ICE price concourse with in specific regards to India. The research signifies how systems' excess capacity in China and technological changes, especially the emergence of sodium-ion battery and Lithium Iron Phosphate (LFP) chemistry, are changing battery and vehicle freight economics at world level. It does this by utilizing secondary data from Bloomberg NEF, the International Energy Agency, and policy documents.

Keywords


Battery Costs, Electric Vehicles, LFP Batteries, Price Parity, Trade Policy

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