Adamas Intelligence has released its 4th biannual ‘State of Charge: EVs, Batteries and Battery Materials’ report. This latest report covers the global EV market’s performance over 2020 H2 and its implications on the ever-evolving battery and battery materials supply chains.
Among the findings of the latest report:
In 2020 H2 global passenger EV registrations grew by 58% versus the same period the year prior, amounting to 3.53 million units versus 2.24 million units in 2019 H2.
In Europe, encouraged by an array of incentives for buyers, EV sales jumped 127% in 2020 H2 over 2019 H2, translating to a 174% increase in watt-hours of battery capacity deployed, a 205% increase in cobalt deployed, a 192% increase in lithium deployed and a 135% increase in nickel deployed versus the same period the year prior.
In parallel, Asia Pacific posted a modest 38% gain, while in the Americas EV sales increased just 28% year-over-year.
Tesla deployed 22.5 GWh of battery capacity in 2020 H2, nearly as much as its five closest competitors combined (BYD, VW, Renault, Hyundai and Mercedes).
Just six cell suppliers globally (LG Energy Solution, CATL, Panasonic, Samsung SDI, BYD and SK Innovation) were collectively responsible for more than 89% of all battery capacity and battery metals deployed globally in passenger EVs in 2020 H2.
LG Energy Solution deployed 273% more watt-hours of battery capacity globally in 2020 H2 than in 2019 H2, translating to a 303% increase in nickel consumption, 265% increase in lithium consumption and a 203% increase in cobalt consumption versus the same period the year prior.
Deployment (in watt hours) of LFP cells increased more than six-fold in 2020 H2 versus 2019 H2, contributing to a boost in the sales-weighted average amount of lithium used per EV.
In 2020 H2, global battery capacity deployed in all newly sold passenger EVs combined amounted to 92.5 GWh, 93% more than was deployed globally in 2019 H2.
Similarly, in 2020 H2, 57,300 tonnes of lithium carbonate equivalent (“LCE”) were deployed globally in batteries of all newly sold passenger EVs combined, 96% more than was deployed globally in 2019 H2.
LCE deployment in NCM 6-Series cells amounted to more than 13,600 tonnes in 2020 H2 (up by more than 100% from 2019 H2), followed by NCM 5-Series (up by 52%), and NCM 8-Series (up by almost 200%). LCE deployment in NCA Gen 3 cells in 2020 H2 increased by 19% over the same period the year prior.
Moreover, in 2020 H2, 53,150 tonnes of battery-grade nickel were deployed globally in batteries of all newly sold passenger EVs combined, 69% more than was deployed globally in 2019 H2.
Lastly, in 2020 H2, 12,700 tonnes of cobalt were deployed globally in batteries of all newly sold passenger EVs combined, 85% more than was deployed globally in 2019 H2. As with lithium and nickel, the sales-weighted average amount of cobalt deployed globally in 2020 H2 per EV sold increased 17% year-over-year, from 3.1 kg in 2019 H2 to 3.6 kg in 2020 H2.