Manganese ore. Long way away from being roadworthy. Stock image.
EV battery manufacturers based in China, South Korea and Japan have almost complete control of the global market and it’s not changing any time soon.
During the first quarter of 2025 a combined $3.01 billion worth of battery metals were contained in the packs of newly sold EVs worldwide, up a modest 1.3% year over year.
The stagnant costs of the EV metal basket is great news for cell suppliers and battery manufacturers as demand for raw material continues to boom. The tonnes of graphite, lithium, nickel, cobalt and manganese deployed during the first three months was up a robust 27% year on year to a combined 428.2 kilotonnes, according to data from EV supply chain research consultants Adamas Intelligence.
Keeping in mind that the installed tonnage does not take into account any losses during processing, chemical conversion or battery…
