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Average nickel, cobalt use rises

Tesla was number one in terms of battery capacity deployed, accounting for 1 out of every 4 MWh deployed in February (including hybrids) and also led in the deployment of lithium, nickel and cobalt.

Adamas says the global sales weighted average amounts of cobalt and nickel per vehicle (including hybrids) grew by double digits year on year as performance full-electric cars using high nickel content batteries such as the Tesla Model 3 and Y, Ford Mustang Mach-E and Audi e-tron Quattro record strong sales.

The brawny electric version of Ford’s iconic pony car enjoyed a particularly successful February, coming in third worldwide after the two Tesla models in terms of battery capacity deployed with a 4% market share.

High nickel content in NCM (nickel, cobalt, manganese) cathodes improves energy density and thereby range, while cobalt is essential for thermal stability.

LFP popularity

The increased use of cobalt and nickel also came despitethe growing popularity of LFP(lithium-iron-phosphate) battery-equipped cars, which for the first two months of the year made up more than 16% of total battery capacity deployed worldwide.

LFP batteries are generally more associated with low cost, low range, compact vehicles like the Hong Guang Mini EV, made by Wuling, General Motors and SAIC, which costs less than $5,000.