With the global electrification drive in full swing, electric cars have constantly been improving in terms of mileage, performance, charging time—and costs. And, Wright's law has so far proven to be right. According to Wright's Law, aka the learning curve effect, lithium-ion (Li-ion) battery cell costs fall by 28% for every cumulative doubling of units produced. The battery pack is the most expensive part of an electric vehicle, and the sticker prices of EVs have been falling with declining battery costs. By 2023, the cost of Li-ion…
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