Bloomberg reports that the average price of lithium-ion battery packs for electric vehicles fell 14 percent in the past year as production capacity exceeded demand, Bloomberg New Energy Finance said. Batteries cost $689 a kilowatt-hour in the first quarter of 2012, compared with $800 a year earlier, the London-based research company said today in a statement.
Prices for batteries have dropped 30 percent since 2009.
Electric vehicles such as Mitsubishi's i-MiEV,Nissan’s Leaf and Tesla’s Model S require between 16 kilowatt-hours and 85 kilowatt-hours of storage, which accounts for about 25 percent of their cost, New Energy Finance said.
