[nostrademons]

Lithium is part of the cathode. Looks like it was more like ~20% in 2022, though it may be down closer to 10% now that the price spike is subsiding:

https://thundersaidenergy.com/downloads/lithium-ion-batterie...

Of note: raw materials are now ~2/3 of the total price of a battery cell, because of the continued plunge in manufacturing costs. And it's pretty well distributed across the different raw materials used. That indicates that the price may not drop all that much more without a concerted supply-chain effort.

[xbmcuser]

Maybe not for current chemistry lithium batteries but for batteries in general prices will probably keep dropping as they find different ways to save cost like using sodium instead of lithium. As solar and wind electricity production keeps getting cheaper and more home installations keep happening I think the demand for cheap home stationary batteries will start growing exponentially.

Hopefully we are not far from the tipping point cheap batteries are needed for it to happen though where world yearly electricity consumption growth can be met by renewables alone and we can start closing more and more coal power plants.

[danans]

Also, The OP asked about EV battery prices, which are about more than the cell, and also include the price of the pack/enclosure, which is 25% of the cost and hasn't budged much in the last few years [1]. Maybe structural battery packs will eliminate this cost completely in the future.

And then there is the reality that most EVs are still being designed and marketed as upmarket luxury cars, and not with the goal of maximizing mass adoption of EVs in the near term.

The market for EVs is the market for higher end new vehicles today. Therefore even as battery prices drop, other factors will probably keep the prices pretty high in the near future.

1. https://cleantechnica.com/2023/12/01/record-low-ev-battery-p....