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Chemistry Lithium Wh & Ah Cost Map - Drive Towards Cheaper Batteries Current market conditions are demanding cheaper batteries for EV’s at the same performance of modern day NMC811 batteries.
Cost Drivers
Cathode active material (CAM) is major driver, accounting for >~50% of the cell cost
Lithium Hydroxide (LiOH) or Lithium Carbonate (Li2CO3) accounts for > 50% of the CAM cost excluding processing/overhead Enabling cheaper EVs
LFP is the near-term solution for achieving the lowest lithium cost per kWh
Beyond LFP, manufacturers will need to turn to advanced chemistries, such as lithium-sulfur (LiS), to maintain cost reductions while improving performance
CELL COST BREAKDOWN
NMC811 COST BREAKDOWN NiSO4 26%
Separator 7% Manufacturing Overhead 24%
LiOH 66%
CoSO4 5% MnSO4 2% NaSO4 1% NH4OH <1%
LFP COST BREAKDOWN Anode 12%
Cathode 51% Fe(NO3)3 22%
For more details, please visit: Battery Talk: Battery Application Break Down 1/01/2025 (Version 3.0)
Electrolyte 4% Casing 3%
Source: Battery Official,Battery Report 2023 (pg 131),Battery Talk: Battery Application Break Down 1/01/2025 (Version 3.0
Li2CO3 68% NH4H2PO4 10%
Extracted from the PDF; charts and images may read imperfectly.
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