Plummeting Battery Prices and the EV Revolution

The U.S. is currently building more battery factories than those planned in China, leading to a significant overcapacity issue. While some critics have raised concerns about this overcapacity, it will ultimately drive prices down even further. For every doubling of production capacity, manufacturing costs typically decrease by 20%. Even if prices only fall by 10%, these savings will be passed on to EV manufacturers and consumers alike.