Batteries: Costs
The question
To ask the Secretary of State for Business and Trade, what estimate his Department has made of current battery costs per kWh; and what assumptions underpin projections for future cost reductions.
Answered by Chris McDonald
My Department does not publish an official estimate and for benchmarking we reference internationally trusted, independent sources.
Battery technology is becoming increasingly important for our national resilience. Global demand for batteries is surging, the battery value chain from raw material extraction to cell production is very concentrated.
We work closely with international partners to improve security of supply, and the Industrial Strategy published last year clearly shows the importance of building a competitive domestic battery supply in delivering economic resilience and growth for the UK.
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