Asia represented 67% of global EV battery capacity deployed in November

In the Asia Pacific region a record 60.7 GWh were deployed onto roads in November, 37% more than the same month in 2023 and the third record breaking month in a row.
During the first 11 months of 2024, 766.1 GWh of battery capacity were deployed onto roads globally in all newly sold passenger EVs combined (including plug-in, range extender and conventional hybrids) combined, up 25% over January through November of 2023.
Total battery capacity deployed through the first 11 months of 2024 is already well beyond the 692.9 GWh racked up worldwide during calendar 2023.
December is usually the global EV market’s strongest month by a considerable margin and at the current pace, the 2024 calendar year could see the total combined battery capacity of EVs sold hit a record of more than 860 GWh deployed.
At this rate, 2025 will almost certainly be the first calendar year that total passenger EV battery capacity deployment – a better indicator of electrification and battery materials demand than unit sales alone – exceeds 1 terawatt hours.
This would constitute a different world than a decade ago – when a paltry 14.6 GWh of EV battery power were rolled onto the globe’s highways and byways over the span of a year.

Looking at the most recent month for which detailed data exists, global battery capacity deployment growth clocked in at 91.0 GWh, up 28%, with Europe once again proving the laggard recording just 4% year on year growth in November versus 11% during the month before.
During the summer months, the combined battery capacity of EVs sold in the Americas exceeded that of Europe but in November European drivers (including the UK, Russia and non-EU states) added 15.0 GWh total battery capacity to the region’s roads while the Americas added 14.1 GWh.
After a slow start to 2024, growth picked up during the latter months of the year in the Americas (where the US and Canada represent 90% of the market) with a 27% expansion in November compared to the same month the year before.
In Asia Pacific, where China likewise dominates the market in GWh terms, a record 60.7 GWh were deployed onto roads in November, 37% more than the same month in 2023.
The region represented a massive 67% of the global market during the month, up from 63% in November 2023 and 60% the November before that.