Bloomberg New Energy Finance releases annual lithium battery price survey report

Bloomberg New Energy Finance recently released its annual lithium battery price survey report. The report shows that the capacity-weighted average price of lithium-ion battery packs this year is $115/kWh, down 20% from 2023, the largest drop since 2017. The decline in battery pack prices is mainly attributed to the serious overcapacity of production capacity. In order to beat competitors and gain market share, battery manufacturers offer extremely low prices.