The sudden surge in lithium battery pack prices has caused a ripple effect throughout the industry, leaving companies of all sizes scrambling to adjust.
The cost of powering our clean energy future has skyrocketed to unexpected heights, with prices reaching a staggering US$151/kWh.
This reversal is a result of a perfect storm of supply chain constraints, COVID-19 restrictions, and inflationary pressures.
China has emerged as the reigning king of the lithium battery market, offering packs at prices that are cheaper than those in other countries.
Meanwhile, companies in the US and Europe are paying a premium, with prices averaging around US$127/kWh. As the world continues its push towards a greener future, it's crucial for companies to understand the forces driving these rising costs and prepare accordingly.
