Will Rising Battery Prices Create a Barrier to Entry for EVs?

Prices peaked in 2010 at over $1,000 per kilowatt hour before falling to a low of $132 in 2021. The main causes of the higher cell pricing seen in 2022 were rising prices for raw materials and components. Large battery producers and automakers have resorted to increasingly aggressive tactics to protect against volatility in the face of these battery metal price hikes, including direct investments in mining and refining operations.