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AI Customer ServiceAlkhorayaf, the Saudi Minister of Industry and Mineral Resources, said Manara had interest in Chile, the world''s second-largest producer of the battery metal.
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AI Customer ServiceThe UK market, with 6.9 GWh of EV battery capacity produced, grew 14% compared to Q2 2023 and 50% compared to Q3 2022. The UK had 4% of the global EV battery market, up from 3% in Q3 2022. France was then the 5th largest EV battery producer in the world, with 4.6 GWh of battery capacity produced.
China does not boast an abundance of battery metal deposits but ranks first largely due to its control over 80% of global raw material refining capacity. Additionally, China is the world’s largest producer of graphite, the primary anode material for Li-ion batteries.
That gave the United States 15% of the global EV battery capacity market, one percentage point up from last year’s 14%. Germany was in a similar boat as the US in terms of growth, but less than half in terms of total capacity produced. Europe’s largest economy produced 11.5 GWh of EV batteries in Q3 2023, which was 6% of the market.
For more Saudi news, visit our dedicated page. Saudi Arabia is working to secure access to lithium and other minerals as part of its goal to turn itself into a hub for battery and EV manufacturing as it aims to diversify its oil-dependent economy.
These rankings and the underlying figures come from Adamas Intelligence. Notably, although China-made EV battery capacity (98.7 GWh) was 16% more than in the second quarter of 2023 and 30% more than in the third quarter of last year, its share of the global EV battery market was down.
Alkhorayaf added that Saudi Arabia is interested in quickly securing supply of lithium, including from Chile, as it aims to produce EV batteries domestically. “We have a leadership that’s very ambitious,” he said. “We are serious to source it now as soon as possible.”
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