Insight
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August 13, 2024
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2 minute read
Top 5 fastest growing countries by battery nickel consumption
According to data from the Adamas Battery Metals Intel Platform , through the first five months of 2024, a total of 115,704 tonnes of nickel were deployed onto roads in the batteries of all newly sold passenger EVs worldwide, a 15% increase over the same period of 2023.
From January through May this year, China led the pack by nickel deployed at 40,015 tonnes, affording the country 35% of the global market.
China’s dominant position in the battery nickel market comes despite the popularity of EVs fitted with LFP batteries in the nation. By GWh deployed, these nickel-free packs were responsible for 53% of all GWhs rolled onto roads in China over the five-month period.
