look news india
New Delhi: Electric vehicle manufacturers expect lithium-ion battery prices to decline by 5 to 10 percent in the next 12 months. According to industry sources, these batteries mainly come from China and are expected to be cheaper after the punitive tariffs imposed by the US on Chinese batteries.
The tariffs announced by the Biden administration just a few days ago could have a serious impact on Chinese exports of these batteries. To protect its domestic industry from competition, the US this year increased the import duty on lithium-ion batteries needed for electric vehicles from 7.5 percent to 25 percent.
China's excess battery production capacity is likely to reduce costs for automakers after previously steep declines. The price of nickel manganese cobalt batteries for Indian manufacturers fell to $90 per kWh in September from $100 six months earlier, a 10 percent decline.
Additionally, lithium iron phosphate batteries have also become more affordable than ever before. In September, lithium iron phosphate battery cell prices for India fell to between $65 and $70 per kWh, from $75 six months earlier. According to electric vehicle industry sources, nickel manganese cobalt battery prices could fall to $80 per kWh in the coming months.