Shocking-but-True✓✓ 2 independent sources
Battery pack prices collapsed ~92% in 15 years, dragging EVs toward price parity
$1,400/kWh (2010) → $108/kWh today (-92%)
The IEA reports lithium-ion battery prices have declined roughly 90% since 2010, when packs cost around USD 1,400 per kWh. BloombergNEF's newest annual survey found average pack prices fell to a record-low $108 per kilowatt-hour even as metal prices rose - the single biggest force behind cheap EVs and booming grid storage.
Lithium-ion battery packs cost about $1,400/kWh in 2010. BloombergNEF's latest survey puts them at $108/kWh - a ~92% crash that made electric cars genuinely affordable.