The cost of battery has seen rapid fall over the years. Study indicates a cost reduction of 14 per cent per year industry wide and an 8 per cent annual reduction for leading makers, who started from a lower cost level.
Main reasons for reduction in battery prices are
  1. Improvement in technology.
  2. The urge of manufacturers in bringing down the cost of batteries ultimately paving the way to bring down the cost of Electric Vehicles.
  3. Mass production of batteries. (Global Goal - To alleviate the amount of CO2 reductions from transport sector it is essential to curb the amount of emissions from vehicles which drives the need to opt for EV’s clearing the reason behind mass production of EV’s and obviously for the batteries.) 

REFERENCES

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1. Lithium-ion battery costs and market, 2017
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3. Speeding up European Electromobility
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2. Global EV Outlook 2017