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Adamas Intelligence: EV cobalt deployment Jan-Nov 2023 up by a third over 2022

From January through November 2023, a total of 50,170 tonnes of cobalt were deployed onto roads globally in the batteries of all newly sold passenger EVs (BEVs, PHEVs and HEVs) combined, 33% more than the same months the year prior, according to Adamas Intelligence.

Tesla, which led with 5,214 tonnes of cobalt deployed globally during the first 11 months of last year, outpaced overall growth, expanding cobalt deployment by 51% compared to the same period in 2022.


Second place went to the GAC, which saw an 83% increase in total cobalt deployed year-on-year, reaching 3,086 tonnes over the period.

Among the top 10 in terms of cobalt deployed, GAC expanded at the second fastest rate behind Li Auto. Cobalt usage at Li Auto, which manufactures plug-in hybrids only, surged by 272% year-over-year, placing it ninth.

Batteries fitted to Mercedes Benz vehicles sold from January through November 2023 contained a combined 2,614 tonnes of cobalt, up 48% year-on-year.

Volvo, at 2,447 tonnes, ranks fourth after a 53% year-on-year increase. Rounding out the top 5 is BMW with 2,420 tonnes rolled onto roads, an increase of 55% year-on-year.


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