Shipping out. Stock Image
2024 was a record-breaking year for the global electric vehicle industry. In total, 865.5 GWh were added to the electric car parc, an expansion of 171.8 GWh, or 25% compared to the year before.
The batteries of electric vehicles, including plug-in and conventional hybrids, sold globally during 2024 contained a combined 1.76 million tonnes of graphite, LCE (lithium carbonate equivalent), nickel, cobalt and manganese, outpacing growth in GWh and unit sale terms. Also bear in mind that these are terminal installed tonnes and required primary production is significantly higher.
Nearly a third of all passenger EV battery capacity, and corollary battery metals, deployed since the emergence of the industry were rolled onto roads last year alone. Adamas Intelligence, a Toronto-based EV supply chain research firm, predicts 2025 will be the first year more than 1 terawatt hours will be…
