Adamas Intelligence data shows that 408,214 tonnes of lithium carbonate equivalent (LCE) were deployed globally in new passenger EV batteries last year, up by 40% from 2022.
Europe and the Americas accounted for 40% of global deployment, rising by 38% to 163,423 tons in 2023. Across the three continents, Tesla took the top spot with 44,757 tonnes of LCE deployed across its S, 3, X and Y model lineup, nearly as much as the next five brands combined and an increase of 34% over 2022.
Volkswagen came in second in the Americas and Europe, deploying 11,750 tonnes of LCE in 2023, up by 39% year on year. The third and fourth largest lithium consumers in 2023 were Mercedes and BMW. Mercedes deployed 10,051 tonnes, an increase of 53% compared to 2022, while BMW’s LCE deployment rose by 54% to 10,016 tonnes. Rounding out the top five was Volvo. The Swedish marque, owned by China’s Geely since 2010, put 1,168 tonnes of LCE onto roads across Europe and the Americas in its EVs sold last year, representing an expansion of 36% compared to 2022.
Lithium deployment is highly concentrated, as the top five deployed a combined 86,543 tonnes of LCE, representing 53% of overall lithium consumption in the regions in 2023.
Source: Adamas Intelligence
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