EV Revolution Rolls On but Battery Metals Lose Their Charge

EV Revolution Rolls On Amid Shifting Battery Metal Markets

The EV revolution continues at a rapid pace despite challenges in battery metal markets.
Global EV sales rose 21% year-on-year to 18.5 million vehicles in the first 11 months of 2025.
China remains the key driver, contributing 62% of global EV sales and leading battery chemistry innovations.

Battery metals such as nickel and cobalt face oversupply and falling prices.
Indonesia’s nickel surplus flooded LME warehouses, pushing prices below $15,000 per ton.
Meanwhile, cobalt from the Democratic Republic of the Congo suffers from export quotas and supply delays.

Lithium remains dominant, yet emerging alternatives like sodium-ion batteries challenge its supremacy.
CATL’s Naxtra technology may replace up to half of LFP battery demand, offering lower-cost solutions.
Energy storage systems further support lithium demand, with installations up 38% year-on-year globally.

China Powers Battery Chemistry Innovation

Chinese companies lead in developing safer, cheaper lithium-iron-phosphate (LFP) batteries.
LFP chemistry now accounts for 48% of global EV batteries, projected to rise to 65% by 2029.
This shift pressures nickel- and cobalt-dependent chemistries, forcing producers to rethink strategies.

Battery metal fortunes are increasingly linked to technological evolution rather than raw demand alone.
Automakers are cautious with cobalt due to price volatility and ethical concerns over artisanal mining.
In contrast, copper and aluminum remain essential for EV wiring and lightweight body frames.

SuperMetalPrice Commentary:

The EV revolution is unstoppable, yet battery metals face turbulent times amid chemistry shifts.
Lithium retains dominance, but sodium-ion and LFP batteries could disrupt traditional nickel and cobalt demand.
Investors and producers must watch technological trends closely to identify future winners in the EV ecosystem.
Ultimately, enabling metals like copper and aluminum may emerge as strategic pillars in electrification.