Top 10 fastest growing countries by battery lithium deployed 

Over the course of 2024, a record 504.4 kilotonnes of lithium carbonate equivalent (LCE) were deployed onto roads globally in the batteries of newly sold electrified vehicles combined, up 23% year over year.  

While still a relatively small market, ranked 21st in absolute terms, Brazil was by far the best performer, with 134% growth over 2023 to 2.4 kilotonnes. Notably, Chinese automaker BYD was responsible for over half the total, followed by three other Chinese automakers Great Wall, Geely and JAC.  

The Chinese takeover of the South American nation’s EV market comes despite escalating import tariffs imposed by Brazil at the beginning of last year. The levy on BEVs is currently at 18% and will rise to 25% in July this year. PHEV and HEV duties started at 20% and 25% respectively and all duties top out at 35% mid-2026.

Year on year growth rates quickly fall off after Brazil, with number two Turkey and third placed Canada both expanding lithium deployment by 42% over the course of 2024. At 9.6kt Canada is the sixth largest market in lithium deployment terms while Turkey is ranked 15th with 3.7 kt.  

The jump in lithium deployment in Denmark (+34%), Belgium (+23%) and the Netherlands (+17%) is made more remarkable by the already high EV penetration rates in these European countries.  

The standout performer is without a doubt China which managed to lift lithium deployment by a third to 288.2 kt despite its already high installed base. The additional tonnes of battery lithium that drivers of new EVs rolled onto the country’s roads was more than the annual total for the US, the world’s second biggest market, which itself grew at a respectable 17% year on year.  

Germany (–18%), South Korea (–18%) and Japan (–14%) were the biggest losers of last year. The poor showing of Germany, the world’s number three EV market, stands in contrast to that of the UK. The island nation upped deployment by a fifth to 18.8 kt LCE in 2024, just 281 tonnes behind Germany.  

Note: Reported battery materials deployment constitute installed terminal tonnes and do not take into account losses during conversion, refining and manufacturing processes. 

Contact the Adamas team to learn more or check out the intelligence services below.