Per Bloomberg, in 2024 lithium-ion battery pack prices fell 20% to $115 per kilowatt-hour. It is the biggest price cut since 2017. At these prices, it is cheaper to buy Chinese even with tariffs of 25%, 35% and perhaps 120%. Central to this trend are the price and technology developments going on in a specific type of battery: Lithium Ion Iron Phosphate or LFP. LFP batteries were once seen as cheap and low-end, suffering fundamental chemistry weaknesses. Leave it to China to engineer their way around such limits. In this video, one of the most revolutionary cost curves in energy history. China and the LFP.