There is an oversupply of lithium and nickel on the global market, and global demand for electric vehicles has shifted from battery-powered to hybrid and plug-in hybrid models.
According to investment bank Macquarie Group, global sales of battery electric vehicles grew 11% year-on-year in the first half of 2025, slowing down compared to growth of 35% in 2023 and 78% in 2022. However, sales of plug-in hybrids grew by 44% over the same period, which is comparable to the 45% growth in 2023 and 32% in 2022.
“The 35% share of plug-in hybrids in total sales is the highest since 2017,” said a bank representative. This type of car is steadily moving towards accounting for half of all passenger car sales in the Chinese market. In the first six months of this year, they already reached 41% of total sales, compared to 32% last year.
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The return to rechargeable hybrids…
