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IEA Report: EV Battery Prices Drop, LFP Surges, Sodium-ion on Horizon

IEA's Global EV Outlook 2024 gives insights into declining EV battery prices, the rise of LFP, and the emergence of sodium-ion technology.

The landscape of electric vehicle (EV) battery prices is undergoing a significant transformation, driven by technological advancements and regional production dynamics shifts. As battery prices decrease and supply chains diversify, the EV market is poised for further growth and innovation, driving the global transition towards a greener, more sustainable transportation future. However, continued investment in research, development, and manufacturing infrastructure will be essential to realize the full potential of these advancements and ensure that EVs become the transportation solution of choice worldwide.

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