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While electric vehicle sales growth has certainly slowed down from the torrid pace of the last few years the global EV market, including plug-in and conventional hybrids, should easily top 20 million units this year.
The robust growth rate also comes despite a noticeable swing towards hybrid vehicles which have inherently smaller batteries and therefore contained metal. The latest data based on EV registrations in over 110 countries show the sales weighted average monthly dollar value of the lithium, nickel, cobalt, manganese and graphite contained in the batteries of the average EV based on global end-user registrations, battery capacity and chemistries.
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