Top 5 countries by EV battery capacity deployed in Q3 2023
China way ahead but US and UK capture some market share
According to Adamas data, China had the highest total battery capacity deployed in newly sold EVs in the third quarter of 2023 at 98.7 GWh, a 16% increase compared to the second quarter of this year and a 30% jump over the same quarter the year prior. Over the same period, China’s share of the global market slid to 54% in Q3 2023, down from 58% a year ago.
In second place, the US deployed 27.4 GWh onto roads in Q3 of this year, up 9% quarter-over-quarter and 49% over the same quarter the year prior. The US captured 15% of the global market in the latest quarter, up from 14% this time last year.
In third spot, Germany deployed 11.5 GWh in Q3 2023, up 28% versus the quarter prior and 51% over Q3 2022. Germany maintained its share of the global market at 6% in Q3 2023.
In fourth, the UK saw 6.9 GWh deployed onto the wrong side of its roads in Q3 2023, up 14% quarter-over-quarter and 50% year-over-year. The UK represented a mere 4% of the global market in Q3 of this year, up from 3% in Q3 2022.
Rounding off the top five was France with a total of 4.6 GWh deployed in Q3 2023, down 10% quarter-over-quarter but up 53% versus the same quarter the year prior – the fastest growing market among the top five. In total, France captured just under 3% of the market in the latest quarter, down from just above 3% the quarter prior and roughly unchanged year-over-year.
Global battery capacity deployment up 45% YTD
In Q3 2023, a whopping 182.6 GWh were deployed onto roads worldwide, up 11% quarter-over-quarter and 39% over the same quarter the year prior, according to data from the Adamas Intelligence EV Battery Capacity and Battery Metals Tracker.
Through the first nine months of 2023, a total of 477.5 GWh have been rolled onto roads globally in newly sold passenger EVs, up 45% year-over-year and just a stone’s throw shy of the 2022 calendar total.
As we continue to highlight, the rate of battery capacity deployment growth (up 45% YoY) continues to run well ahead of global EV unit sales growth (up 33% YoY), which to-date amounts to just under 13.5 million BEVs, PHEVs and HEVs sold worldwide.
Notably, PHEVs have seen a 50% surge in sales growth so far this year, coupled with an 20% increase in the average PHEV’s battery capacity, from 17.3 kWh to 20.4 kWh. Consequently, PHEVs captured an impressive 12% share of the market by GWh deployed through the first nine months of this year versus just 10% the same period last year.
Adamas take:
Year-to-date, passenger EV unit sales are up 33% versus 43% growth the same period the year prior leading some OEMs to sound the alarms in recent weeks.
Over the same period, a steady rise in the average EV’s battery capacity has fueled a 45% rise in GWh deployed onto roads, helping offset the unit market’s slowdown for cell and battery metals suppliers.
EV, Battery and Battery Materials Market Intelligence:
EV Battery Capacity and Battery Metals Tracker
Building on ongoing EV registrations in over 110 countries, our web-based platform helps users track monthly deployment of battery metals and materials, battery capacity, and the ever-evolving competitive landscapes of battery chemistries and cell suppliers.
EV Battery Capacity Monthly
The ‘EV Battery Capacity Monthly’ is a subscription-based report for tracking monthly deployment of passenger EV battery capacity by EV type, region, country, make, model, cell supplier and cell chemistry on an ongoing basis.
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