It is no surprise that electric vehicles are generally a more expensive than their internal-combustion counterparts. A large part of that added expense comes down to a single component, the battery pack. In fact, depending on the material makeup of the battery, the pack may cost just as much as an entry-level car.
According to a report from Visual Capitalist, chemical composition plays a huge role in the final price of a battery pack, which drives overall vehicle pricing. While automakers aren’t keen on sharing those specific figures with the public or their competitors, Visual Capitalist turned to the team at Benchmark Minerals—a trade group that tracks materials and mining costs—to estimate the potential replacement costs associated with EV batteries. Of the six models investigated in the report, a Ford Mustang Mach-E equipped with its smaller 70-kWh pack was estimated to have the most affordable battery. Thanks to its Lithium-Iron-Phosphate chemistry, the pack only costs an estimated $6895. Assuming the 2024 Mach-E lineup is priced similarly to previous model years, that’s over 15 percent of the car’s total price.
That figure has nothing on the 2025 Ram 1500 REV, though, with its 229-kWh battery pack carrying an estimated price tag of around $25,853. Part of that disparity comes down to the fact that the Ram’s battery is more than triple the size of the Mustang’s, but chemistry is also at play. Ram plans to use a Nickel-Cobalt-Manganese battery, which is more expensive on the raw materials front. The VW ID.4 uses a similar battery chemistry, with its 62-kWh pack costing an estimated $8730. Stellantis has confirmed plans for an even larger battery pack down the line, which will certainly cost as much as an entire car. For reference, a new Toyota Camry starts at $26,420.
General Motors’ 200-kWh pack found in Escalade IQ is also quite expensive, with estimates putting it at around $22,540. GM’s Ultium powertrains use a Nickel-Cobalt-Manganese-Aluminum construction sourced from LG Chem, and are shared across a number of model lines, such as the Silverado EV and Hummer EV.
With the cost of batteries remaining high, automakers have raised prices of their vehicles to protect profits. Until there’s a major breakthrough in battery technology, these prices aren’t likely to drop by any considerable measure.
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