Average PHEV now contains 20% more lithium than a year ago

LCE in average PHEV now 36% that of average BEV

Batteries are being bulked up across EV types, but PHEVs are running far ahead of BEVs and HEVs, Adamas data shows. 

In Q3 2023, the average PHEV sold globally had a 21.6 kWh pack, representing a hefty 22% rise over the same period the year prior. 

Consequently, the amount of lithium contained in the average PHEV’s battery has also jumped higher, up 20% from 11.0 kg to 13.2 kg, over the same period. 

For BEVs, a 7% increase in the average unit’s battery capacity year-over-year has fueled a modest 6% rise in lithium loading per unit sold, from 34.7 kg to 36.8 kg. 

As of Q3 2023, the average PHEV sold globally contained 36% as much LCE as the average BEV, up from 32% the same period last year. 

In total, the average passenger EV (including BEVs, PHEVs and HEVs) sold globally in Q3 2023 contained 21.7 kg of LCE, up 5% year-over-year. 

According to Adamas data, lithium carbonate made up 59% of all LCE units deployed in the third quarter of this year and lithium hydroxide 41%.

Adamas take:

For lithium suppliers to the electric vehicle industry, the rise in average battery capacity across all EV types and the attendant rise in lithium use per unit provides some support as the EV sales makeup in many countries, particularly China, shifts to hybrids. 

 

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