Electric vehicles are powered by large lithium-ion battery packs, and those packs remain one of the biggest expenses in an EV. Understanding where the money goes can help explain pricing, range, and future cost trends. A breakdown from Elements by Visual Capitalist examines the major components and manufacturing costs behind a typical EV battery.
According to the data, the average battery cell cost was $101 per kWh last year, while the complete battery package averaged $132 per kWh. To estimate a battery's share in an EV's price, multiply the vehicle's gross battery capacity in kWh by $132. Although that figure is still substantial, it is far below the roughly $1,200 per kWh cost seen in 2010.
The infographic highlights the cathode as the most expensive part of the battery. As the positive electrode, the cathode receives electrons and positively charged molecules during discharge and helps store them until charging occurs. Because it has a major impact on performance, driving range, and thermal safety, it commands a significant share of the cost. Cathode materials vary by chemistry, including lithium iron phosphate, lithium nickel manganese cobalt, and lithium nickel cobalt aluminum oxide. The commodities used in the cathode account for about 40% of total cell cost.
Other elements make up the remaining share. Manufacturing represents around 24% of cell cost, while the anode contributes roughly 12%. Most lithium-ion anodes use natural or synthetic graphite, which is generally less costly than the metals used in cathodes. Combined, non-cathode components add up to nearly half of the overall cell expense.
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