In combined battery capacity deployed – a better indicator of battery materials demand than unit sales alone – the global electric car market expanded by 23% during the first half of the year.
In total, 365.5 GWh of fresh battery power hit the globe’s roads from January through June, according to data from Adamas Intelligence. The robust growth rate also comes despite a noticeable swing towards hybrid vehicles which have inherently smaller batteries.
However, when pairing metals demand with prices in the EV battery supply chain the picture looks very different.
The graphs from Toronto-based EV supply chain research firm Adamas Intelligence show the sales weighted average monthly dollar value of the lithium, nickel, cobalt, manganese and graphite contained in the batteries of the average EV based on global end-user registrations, battery capacity and chemistries.
During H1 2024 the average EV battery contained…
