How Is KR 9.1 Tracking?
The world has an enormous demand for cheaper batteries, far beyond today’s scale.
Our Batteries key result calls for scaling the production of batteries while lowering their cost from $132 per kilowatt hour to $80.
By itself, transitioning all new auto sales to electric—60 million cars per year—will require 10,000 gigawatt hours (GWh) of batteries. We turn out a tiny fraction of that today—and we’ll need another 10,000 GWh and more for electricity storage for the grid.
The world is about to grow ravenous for batteries, and scale is hard to attain. To ramp up production by several orders of magnitude, we’ll need innovations in both materials and manufacturing.
Bringing down costs is especially challenging. Demand for limited supplies of battery materials is rising, and inflation is pushing prices higher.
Data for KR 9.1 is sourced from BloombergNEF’s Lithium-Ion Battery Price Survey, which updates annually.
Battery prices have dropped about 90 percent over the last 12 years.
