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Batteries are expensive because of the materials they're made from, the manufacturing process, and the design of the battery cell:
Materials
The materials used to make batteries, like lithium, cobalt, nickel, and manganese, are expensive. The price of these materials can fluctuate based on supply and demand.
Manufacturing
The manufacturing process for batteries is complex. The battery cell design is also a major factor in the cost, with the cathode, anode, electrolyte, separators, and housing all contributing to the price.
Energy capacity
The energy capacity of a battery is determined by the materials used in the cathode. To increase energy capacity, manufacturers use costly materials like cobalt, lithium, and manganese.
Other factors that contribute to the cost of batteries include: Transportation, Labor, COVID-19, Enhanced battery designs, and Longer manufacturing process.
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