"It's more a virtuous cycle —lower battery prices mean more competitively priced EV cars [and in turn] higher adoption and higher demand."
Technological developments such as direct lithium extraction could also cause a shake-up in battery prices.
Battery market 'winners' Despite some potential risks, Bhandari identified several global stocks that look set to gain from the fall in battery prices.
Battery market 'losers' Goldman also revealed a list of potential "losers" in the battery market, or stocks it has a sell call on right now.
It gives Gotion a 22.6 Renminbi price target, or 1.8% downside.
Persons:
Goldman Sachs, ning, Nikhil Bhandari, CNBC's, Bhandari, —, Envicool, Goldman, CNBC's Naman Tandon
Organizations:
Battery, LG Chem, Korean, Panasonic, Hong
Locations:
China, Africa, Latin America, Hong Kong