Reference
·Primary source
BNEF global lithium-ion battery pack price (2020-2025)
~USD 108/kWh (2025)
BloombergNEF's December 2025 Annual Battery Price Survey put global volume-weighted lithium-ion battery pack prices at USD 108/kWh in 2025, down 8% from USD 118/kWh in 2024 despite rising battery-metal costs, driven by cell-manufacturing overcapacity, intense competition, and the ongoing shift to lower-cost LFP chemistry. Stationary-storage pack prices fell to USD 70/kWh (-45% YoY) and now sit below EV-pack prices for the first time. LFP pack prices alone averaged USD 81/kWh across segments versus USD 128/kWh for NMC. China pack prices at USD 84/kWh were 44-56% lower than North American and European pack prices. The 2020-2025 trajectory remains the primary cost-curve driver for Thai BESS and EV unit economics.
Figure in context
BloombergNEF's December 2025 Annual Battery Price Survey put global volume-weighted lithium-ion battery pack prices at USD 108/kWh in 2025, down 8% from USD 118/kWh in 2024 despite rising battery-metal costs, driven by cell-manufacturing overcapacity, intense competition, and the ongoing shift to lower-cost LFP chemistry. Stationary-storage pack prices fell to USD 70/kWh (-45% YoY) and now sit below EV-pack prices for the first time. LFP pack prices alone averaged USD 81/kWh across segments versus USD 128/kWh for NMC. China pack prices at USD 84/kWh were 44-56% lower than North American and European pack prices. The 2020-2025 trajectory remains the primary cost-curve driver for Thai BESS and EV unit economics.
Interpretation notes
What this tells you
BloombergNEF's December 2025 Annual Battery Price Survey put global volume-weighted lithium-ion battery pack prices at USD 108/kWh in 2025, down 8% from USD 118/kWh in 2024 despite rising battery-metal costs, driven by cell-manufacturing overcapacity, intense competition, and the ongoing shift to lower-cost LFP chemistry. Stationary-storage pack prices fell to USD 70/kWh (-45% YoY) and now sit below EV-pack prices for the first time. LFP pack prices alone averaged USD 81/kWh across segments versus USD 128/kWh for NMC. China pack prices at USD 84/kWh were 44-56% lower than North American and European pack prices. The 2020-2025 trajectory remains the primary cost-curve driver for Thai BESS and EV unit economics.
What not to do with it
Values in USD per kWh, volume-weighted average pack price (BNEF). The 2022 spike reflects post-COVID lithium-carbonate price surge before normalisation.
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Thailand EV battery local-content target
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GPSC G-Cell battery production capacity
GPSC annual report, GPSC G-Cell announcements, PTT Group strategy disclosures, 24M Technologies licensing
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