Supply chain problems are real, and ongoing, but they don’t seem to be holding back the steady transition to electrified vehicles. Global EV sales are soaring, and so are raw material deliveries, according to the latest Monthly Battery Raw Materials Deployment report from Adamas Intelligence.
In June 2022, global monthly sales of electrified passenger vehicles (EVs, PHEVs and hybrids) grew to over 1,283,000 units, a 25% increase from May and a 38% increase over June 2021. Plug-in vehicles (EVs and PHEVs) are seeing far greater sales growth (53% year-over-year) than are hybrids (10% year-over-year).
By far the highest rate of growth was in the Asia/Pacific region: 36% over the previous month and 91% over the same month last year. Adamas believes the spectacular growth has much to do with the easing of pandemic-related restrictions in China. In Europe, total passenger EV sales actually declined 7% versus the same month last year, but grew by 16% over the previous month. Further growth can be expected as Tesla starts to ramp up production at Giga Berlin. The Americas saw sales grow by 4% over the previous month and 8% over June 2021.
Naturally, all those vehicles needed batteries. Adamas reports that 44,885 MWh of battery capacity was deployed onto the world’s roads in June, a 39% increase over May and a 68% increase over June 2021. China’s CATL was the top cell supplier, delivering 16,733 MWh. Tesla was the top automaker—it deployed 11,300 MWh.
Moving farther upstream, we find that deployment of raw materials in batteries is also growing fast. In June 2022, 26,795 tons of lithium carbonate hit the roads, a 37% increase over May and a 66% increase over June 2021. Also in June, nickel deployment increased by 30% monthly or 38% year-over-year. Cobalt deployment increased by 23% monthly or 39% yearly, and graphite deployment increased by 41% or 77%. Graphite seems to be on a roll: Adamas reports that the global sales-weighted average amount of graphite deployed per battery increased by 28% year-over-year, from 25 kg to 32 kg.
Source: Adamas Intelligence