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Adamas Intelligence says LFP cell deployment is up 237% in H1 2022

The latest biannual report on the global EV market from Adamas Intelligence highlights expanding EV sales, as well as the growing popularity of LFP battery chemistries, in the first half of 2022.

In the first half of 2022, 6.23 million new passenger EVs were registered around the world—an increase of 42% compared to the same period the year before. As usual, the strongest growth was in the Asia/Pacific region (75% year-over-year), while the other major markets saw more modest growth: 19% year-over-year in the Americas and 10% in Europe.

Growing EV sales translated to growing deployments of battery capacity and consumption of raw materials. Total global EV battery capacity delivered was 195.5 GWh, an increase of 79% compared to H1 2021. In the Asia/Pacific region, lithium consumption grew by 113%, nickel consumption grew by 69%, and cobalt consumption grew by 74% year-over-year.

Tesla continues to dominate the market—the company sold new EVs with a total of 41.7 GWh of battery capacity, nearly as much as its four closest competitors (GAC, Hyundai, BYD and Kia) combined.

Seven cell suppliers (CATL, LG Energy Solution, Panasonic, BYD, SK On, Samsung SDI and CALB) were collectively responsible for more than 82% of all battery capacity deployed.

The popularity of LFP battery chemistries, which are comparatively inexpensive and use no problematic cobalt or nickel, continues to grow. In H1 2022, deployment of LFP cells reached 52.7 GWh, a year-over-year increase of 237%.

The global appetite for lithium continues to swell—117,200 metric tons of lithium carbonate equivalent (LCE) were deployed, an increase of 76% over H1 2021.

Source: Adamas Intelligence

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