Electric Vehicle Component Price Data

Publish Date : January, 2024

The components of the Electric Vehicle play a crucial role on costing of the vehicle. Compared to ICE Vehicles, EV has fewer parts but are more expensive.  Having EV component level price helps to control the cost of the vehicle, helps to know the feasibility of the EV project, Business case Review and Analysis, Product planning, Deciding selling price with sales strategy and so on.

For example, the Power Module is the major cost contributor in the inverter. Semiconductor is the major cost component of the power Module. SiC is more expensive than Si semiconductors. If the inverter is more efficient or heat loss is minimal then its cost increases in a proportionate. So there are multiple fonts in the cost structure of the Electric Vehicle.

Buying the semiconductor or power Electronics from the most economical resources can save up to 6 to 10% cost. Some of the Semiconductor Suppliers are Infineon, Wolfspeed, Rohm, Bosch, STMicroelectronics, and Renesas. Rohm is highly cost-effective and Infineon maintains superior quality of Semiconductors.

Bosch acquired a USA-based TSI semiconductor to control the cost of its power module device and for a secure supply of SiC semiconductors.

Recently, Wolfspeed invested heavily in building new Silicon semiconductors to fulfil the demand for Electric vehicles and keep a leading position in this technology.

Wolfspeed is also working on a discrete power module device with ZF. This is expected to have a low price compared to the Semikron Danfoss Power Module.

Due to the high demand for semiconductors, new semiconductor manufacturing companies are entering this segment—Some companies manufacture SiC semiconductors by taking the licence of established semiconductor suppliers.

Battery packs cost the largest portion of the Electric Vehicle. There is a cost war between CATL and BYD. The two battery manufacturers control more than 35 per cent market share.  The upgraded battery technology and lower Lithium price cut the price with better energy density.

Electric Motor: The high-performance and efficient motor may have a higher manufacturing cost which reflect in the EV BOM cost.

Segment covered of Electric Vehicle:

  • Electric Car
  • Electric Truck
  • Electric Bus
  • Electric Two Wheeler
  • Electric Three Wheeler
  • Other types like off road Electric Vehicles

Name of the Electric Vehicle components:

  • DC-DC converter
  • Onboard charger
  • Traction motors
  • Motor control unit
  • Battery – LFP, Sodium Ion, NMC, Lead Acid battery
  • Semiconductor – Si and SiC
  • e-throttle
  • Angle sensor
  • Hall /Speed sensor
  • Handlebar switches
  • Cluster
  • Controllers
  • Flasher
  • Side stand sensor
  • AVAS
  • SMART BMS
  • OBD
  • V2X

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