Power battery cell prices to be cut in half by 2023

In 2023, the price of power battery cells will drop significantly, with lithium iron phosphate falling to less than 0.4 yuan per watt-hour and ternary to less than 0.5 yuan, which is equivalent to a halving. Taking each GW of lithium iron phosphate cells as an example, the cost of positive electrode materials will drop from 530 million to 160 million, a drop of 70%; negative electrode materials will drop from 130 million to 86 million, a drop of 34%; and diaphragm materials will drop from 12.35 million to 5.52 million, a drop of 55%. The electrolyte will drop the most, from 132 million to 22 million, a drop of 83%.