Adamas Intelligence published the 7^th edition of its biannual ‘State of Charge: EVs, Batteries and Battery Materials’ report. (Earlier post.) The latest biannual report provides an overview of the global EV market’s performance over 2022 H1 and its implications on the ever-evolving battery and battery materials supply chains.

Among the findings of the latest report:

• In 2022 H1 global passenger EV registrations jumped 42% over the same period the year prior, amounting to 6.23 million units, up from 4.40 million units in 2021 H1. This increase was driven by surging sales growth in Asia Pacific (up 75% year-over-year) coupled with modest growth in the Americas (up 19% year-over-year) and Europe (up 10% year-over-year).

• In the Asia Pacific region specifically, a 75% increase in EV sales year-over-year in 2022 H1 translated to a massive 118% increase in watt-hours of battery capacity deployed onto roads over the same period the year prior, and a corresponding 113% increase in lithium, 69% increase in nickel and 74% increase in cobalt consumption over the same period.

• In 2022 H1, total global battery capacity deployed onto roads in all regions combined amounted to a hefty 195.5 GWh, 79% more than was deployed globally in 2021 H1.

• In 2022 H1, Tesla continued to ‘lead the pack’ by battery capacity deployed onto roads globally, installing nearly as many watt-hours into newly sold EVs as its four closest competitors combined (41.7 GWh for Tesla, 42.7 GWh for GAC, Hyundai, BYD and Kia combined).

• Just seven cell suppliers globally (CATL, LG Energy Solution, Panasonic, BYD, SK On, Samsung SDI and CALB) were collectively responsible for more than 82% of all battery capacity and battery metals deployed onto roads globally in passenger EVs in 2022 H1.

• In 2022 H1, deployment of LFP cells (in watt-hours) increased 237% over 2021 H1 to 52.7 GWh, suppressing nickel and cobalt use per vehicle sold, on average.

• In 2022 H1, 117,200 tonnes of lithium carbonate equivalent (LCE) were deployed onto roads globally in the batteries of all newly sold passenger EVs combined, 76% more than were deployed globally in 2021 H1. In 2022 H1, 59% of all LCE units were deployed as carbonate, 41% as hydroxide.

• Similarly, in 2022 H1, 88,200 tonnes of nickel were deployed onto roads globally in the batteries of all newly sold passenger EVs combined, 50% more than were deployed globally in 2021 H1.

• In 2022 H1, 18,500 tonnes of cobalt were deployed onto roads globally in the batteries of all newly sold passenger EVs combined, 44% more than were deployed globally in 2021 H1.