The $111/kWh is a global average, too. For instance, in early 2024, LFP cells made by CATL and BYD were seem as low as $56/kWh. While the cell price is cheaper than the pack price, and although US prices tend to be 10-12% higher, the news out of China offers a promising glimpse of the battery future.
Given this, BNEF expects average battery pack prices to drop again next year, reaching $133/kWh (in real 2023 dollars). Technological innovation and manufacturing improvement should drive further declines in battery pack prices in the coming years, to $113/kWh in 2025 and $80/kWh in 2030.
The data at this time is limited, as only a small number of EV models have been on the market long enough to warrant a battery replacement. On average, you can expect the replacement cost of an electric car's battery to run from $5,000 to upward of $15,000, according to an article from Consumer Reports.
Based on data we've seen for more recent, accident-related replacements, the total amount has come down to $10 - $12,000, with 80-90% of that going for the battery itself. In 2020, Current Automotive posted the receipt of one customer’s replacement of a remanufactured 75kWh battery in a Tesla Model 3:
Like with the Model 3 above, the same third parties offer refurbished batteries for less than new (or refurbished) packs from Tesla. At re/cell, prices start at $115/kWh and go up to $135/kWh for performance and longer range. Greentec offers refurbished packs from $118/kWh to $145/kWh.
More recently, a Reddit reader added that a Long Range battery replacement (75 kWh) cost them around $13,000 - including labor - in 2023. Another reader gave a similar quote. That still works out to $173/kWh. However, third party retailers, such as Greentec Auto, offer refurbished OEM packs for $9,000, which works out to $120/kWh.
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