The global passenger EV market, including plug-in and conventional hybrids, should easily reach 25 million units this year.
In combined battery capacity deployed – a better indicator of battery materials demand than unit sales alone – the electric car market has expanded by a robust 34% so far this year. According to data from Toronto-based EV supply chain research firm Adamas Intelligence, 2025 is shaping up to be the first calendar year battery capacity deployment tops 1 TWh.
The wildcard to reach this milestone is the US, where the provisions of the tax bill are making the way through Congress, slashing EV subsidies could significantly alter growth in the world’s second largest EV market.
The raw material bill for the contained lithium, graphite, nickel, cobalt and manganese in the batteries of EV sold during the first four months of year climbed to over $4 billion, even as prices for…
