Top 5 EV cell suppliers in the Americas by nickel deployed 

In 2024, the batteries of all newly-sold passenger EVs in the Americas (of which the US and Canada constitute 97%) contained a total of 90.3 kilotonnes (kt) of nickel, up 21% over the year prior.  

With 28.3 kt of nickel deployed, Panasonic, supplier to Tesla and Toyota, was the uncontested leader despite an 18% contraction in nickel tonnage rolled onto roads last year.

Nearly half of the nickel installed in new EVs via Panasonic was contained in the high-nickel packs of the Tesla Model Y. Panasonic entered a supply relationship with Tesla back in 2009 and has since relied on the automaker for much of its EV battery business. 

Another one third of the nickel deployed by the Japanese conglomerate in the Americas last year was contained in nickel metal hydride (NiMH) batteries powering conventional hybrids from Lexus and Toyota. 

Following Panasonic, LG Energy Solution (LGES) came in a distant second place in the Americas, in its case courtesy of the Tesla Model 3. The Tesla workhorse together with the Ford Mustang Mach-E drove 54% of the Korean manufacturer’s nickel deployment onto roads in the region last year.

Just behind LGES, Ultium Cells, a partnership between LGES and General Motors, snagged position three after an 8-fold jump in nickel deployment last year versus the one before. 

Ultium’s nickel deployment rose to 12.2 kt in 2024 thanks to the successful market entry of the fully electric Chevrolet Equinox and Honda Prologue, which GM makes on behalf of the Japanese automaker at a plant in northeast Mexico. 

Trailing Ultium, SK On achieved 40% year on year growth in 2024 with the Ford F-150 Lightning and the Hyundai Ioniq 5 combined hauling 56% of the Korean manufacturer’s 11.7 kt nickel onto roads last year.  

Last but not least, Tesla claimed fifth place, pulling ahead of Samsung SDI thanks to the Cybertruck following the controversial pickup’s first full year of sales. Tesla’s in-house high-nickel cells are manufactured at its Gigafactory located at the company’s global headquarters in Austin, Texas.            

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