

Yup. A huge part of the cost is the batteries, the electric motors, the sensors and controllers that manage charging and discharging.
Looking around at home battery backup solutions, for example, simply having the same storage capacity as an EV (50-75 kwh) can cost almost as much as an EV itself.
Jackery has add on batteries for about $1000 for 5 kwh, Ecoflow and Anker Solix cost $2000 for 6 kwh.
At those prices, a 60kwh battery pack in an EV basically represents $12,000 to $20,000 in battery cost alone, plus a whole system around charging it and using it for an electric motor, and then a whole car around that.
It’s not a perfect comparison, but it does show that the actual material cost of what goes into an EV is primarily the electric drivetrain and battery.




I do wonder how much it would cost to build a code-compliant, UL-certified/listed system for home battery backup at 50 kwh, with a system that knows to balance things between cells over many charge/discharge cycles.
I gotta imagine a lot of the value add of the established names is that they actually operate in the U.S. (even though all 3 companies I named are Chinese owned). That’s not just about marketing (even if it is true that having U.S. operations helps significantly with marketing), but the cost of certifying for different third party safety standards, and having assets/operations that bring them within reach of U.S. courts and regulators.