Battery material prices plummet, driving down costs

Prices for key materials used in battery manufacturing, such as lithium, cobalt, nickel and graphite, have experienced significant drops, contributing to a notable decrease in battery costs.
According to a report by the International Energy Agency, the price of lithium has plummeted by 75%, while cobalt, nickel and graphite prices have fallen by 30% to 45%.
This decline in raw material costs has played a significant role in driving down battery prices by 14%, making electric vehicles and renewab