EV battery prices fell by 50% at end of 2023, says TrendForce

Average sales prices of Chinese power cells at the end of 2023 were half of what they were at the start of the year, according to TrendForce. Despite the drop, the research firm says prices should stabilize in the second half of 2024.TrendForce statistics show that Chinese electric vehicle cell prices were down 50% in December 2023 compared to January 2023, with average sale prices for batteries falling by 10% in the final month of the year alone. Square LFP battery cells suffered the biggest blow with a 10.1% price reduction in December, followed by Pouch NCM523 with 7% and Square NCM523 with ...

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