Battery Costs Keep Falling - But the Technology Race Is Just Getting Started

EV battery pack prices hit $108/kWh in 2025 as new chemistries near qualification, making near‑term platform timing critical for OEMs and Tier 1s.

From cost compression to technology convergence, the EV battery industry is at an inflection point. Pack prices hit a record low of $108/kWh in 2025 and continue to fall, while solid-state, lithium-metal, and sodium-ion technologies move from pilot line to automotive qualification. For OEMs and Tier 1 suppliers, the strategic challenge is timing: platform architecture decisions made in the next 12 to 18 months will shape competitive positioning for the rest of the decade.