Lithium deployment Q3: Top 5 BEV manufacturing countries
In the third quarter 2024, a record 106,761 tonnes of lithium carbonate equivalent (LCE) were deployed onto roads globally in the batteries of all newly sold fully electric vehicles (BEVs) combined, up 7% quarter over quarter and 14% over the same quarter last year.
Notably, LCE deployment in made-in-China BEVs amounted to 66,023 tonnes during the quarter, up 23% over Q3 2023, accounting for 62% of the global total.
During the same period, BEVs manufactured in the US and Germany ranked a distant second and third respectively with 12,821 tonnes and 11,297 tonnes of LCE, equal to 12% and 11% of the global total. US deployment increased 14% year on year while growth in Germany barely crossed the 1% mark.
At 4,590 tonnes, the combined lithium contained in South Korean-made BEVs declined by 5% year on year while Mexico’s tally shot up by 68% to 2,141 tonnes, overtaking Japan for fifth spot during Q3 2024.
Mexico’s rank was boosted by the success of the recently introduced Honda Prologue, a badge-engineered version of GM’s Chevy Blazer. Together, the two mid-size SUVs drove half of made-in-Mexico lithium deployment.
Methodology: We analyze the battery specifications, battery chemistries, and metal loadings of every unique passenger EV model-version (e.g., 2024 Tesla Model 3 Performance AWD (MIC) – 4th generation) produced and sold globally each month with historical data back to January 2004 (~3,000 model-versions).
With this industry-leading granular insight in hand, we track global monthly production, trade and sales of each model-version for over 180 automakers in over 110 countries to accurately assess the competitive landscapes of cell suppliers and cell chemistries, and to quantify battery capacity and battery materials deployment onto roads, from the bottom up.
Reported battery capacity and materials deployment constitute installed terminal watt-hours and/or tonnes of materials and do not take into account losses during conversion, refining and manufacturing processes.
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