Lithium loadings on the rise across all EV types in Q3 2023

Dec. 4, 2023

Lithium use in PHEV batteries up 80% year-over-year   

In the third quarter of this year, 108,227 tonnes of lithium carbonate equivalent (LCE) were deployed onto roads globally in the batteries of newly-sold EVs, representing a 38% (or nearly 30,000 tonne) increase over the same quarter in 2022. Over the same period, the amount of LCE contained in the average EV’s battery rose 5%, Adamas data shows.

More specifically, a total of 93,407 tonnes of LCE were deployed onto roads in newly-sold battery electric vehicles (BEVs) during the quarter, up 34% year-over-year.

Lithium use in plug-in hybrid (PHEV) batteries sold during the September quarter totaled 14,275 tonnes, a massive 80% increase over the same quarter last year as unit sales and LCE loading per unit continue to surge in tandem.

Lastly, just 544 tonnes of LCE were deployed onto roads worldwide in the batteries of conventional hybrid electric vehicles (HEVs), up a notable 37% compared to Q3 2022.

Adamas take:

For lithium producers struggling to adapt to plunging lithium carbonate prices, rising lithium loadings across all EV types provide a silver lining to the gathering clouds over the battery metal sector.  



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