Part 4/8:
Bloomberg's report reveals that battery pack prices fell 20% between 2023 and reached an unprecedented low of $115 per kilowatt-hour at the pack level. Although there have been fluctuations—particularly due to lithium's skyrocketing prices—market dynamics are evolving. Increased competition among battery manufacturers, particularly in China, coupled with rising production capacities, has enabled prices to fall, putting tremendous pressure on legacy automakers.