Electric Car Battery Prices Have Dropped 79%

Electric Car Battery Prices Have Dropped 79% – The price of batteries for electric vehicles continues to decline. In 2010 the price of battery packs still reached US$ 1,000 per kilo Watt-hour (kWh). But now it has dropped to US$ 209 per kWh, or down about 79%. This was conveyed by the Founder of Lentera Bumi Nusantara, Ricky Elson, who also started working on electric vehicles with Dahlan Iskan in 2012.

Electric Car Battery Prices Have Dropped 79%

In a webinar yesterday, Wednesday (10/13/2021), he said that based on data from Bloomberg New Energy Finance (BNEF), the price of batteries for electric vehicles is estimated to continue to decline to below US$ 100 per kWh in 2025.

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“Right now we are using lithium, it will continue to grow in the future. The point is we want batteries with large capacity, small size, and low prices. When I started the 2012 project the price started to drop at US$ 200 per kWh, still expensive,” he said.

Electric Car Battery Prices Have Dropped 79%
Electric car battery.

He gave an example, for an electric car battery from Tesla with a power capacity of 90 kWh when multiplied by a price of US$ 200 per kWh, it means that it is already US$ 18,000 or around Rp. 257 million (assuming an exchange rate of Rp. 14,300 per US$) only for the battery.

“US $ 18,000 for batteries alone, we are still far away from talking about the long term,” he continued.

He further said that technology is an important component that must be mastered in developing electric vehicles, including control technology. He regrets that until now Indonesia does not have companies that excel in the control sector.

“What we are most likely to pursue is electric motor research and development,” he said.

According to him, the peak of electric vehicle technology is in Formula E. This electric car engine is 26 kg with 250 horsepower.

“Other regulations are government affairs, interest in technology should not be left behind, how at least our children and grandchildren must participate in building this civilization, otherwise we will only give birth to a generation of unboxing and reviewers,” he explained.

As is known, RI has a dream to become the king of the world’s batteries. Abundant nickel resources reaching billions of tons are predicted to be capital in pursuing these goals.

The Electric Vehicle Battery (EV Battery) Project Acceleration Team Agus Tjahajana said his party had compiled a roadmap for the development of the electric vehicle battery industry ecosystem until 2027.

Electric Car Battery Prices Have Dropped 79%
Source: Visual Capitalist

Based on the data presented in the Hearing Meeting (RDP) at Commission VII DPR RI, Monday (01/02/2021), in 2021 the construction of the Public Electric Vehicle Charging Station (SPKLU) and the General Electric Vehicle Battery Exchange Station (SPBKLU) will be intensified. throughout Indonesia.

Currently, there are 32 SPKLU points in 22 locations and 33 SPBKLU pilot projects. In addition, this year it is also planned to develop an energy storage system (ESS).

“The roadmap for the development of the EV and ESS battery industries is until 2027. In 2021 the target is to start the construction of charging stations or SPKLU and SPBKLU throughout Indonesia,” he said in the RDP, Monday (01/02/2021).

Then, in 2022 OEMs are targeted to start producing electric vehicles in Indonesia. Then, in 2024, the High-Pressure Acid Leaching (HPAL) smelter is targeted to start operating, which was developed by PT Aneka Tambang Tbk and the battery and cathode Precursor Plant factory operated by Pertamina and MIND ID.

“In 2022, EV manufacturing companies are expected to start operating in Indonesia, and from upstream to downstream are planned to operate in 2024,” he explained.

Then, in 2025 the cell to pack factory will start operating which was developed by Pertamina and PLN. Then, in 2026 the new capital city of Indonesia in East Kalimantan is expected to have 100% adopted electric vehicles.

He said the development of an integrated electric battery industry ecosystem from upstream to downstream would require an investment of US$ 13-17 billion or around IDR 182 trillion-IDR 238 trillion (assuming an exchange rate of IDR 14,000 per US$).

“With high technology risk and a market that relies on OEMs,” he said.

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