Tesla consumes more lithium than four closest rivals combined
In the battery metals race, Tesla and Volkswagen have each found a way to overtake their competitors.
A recent report by Adamas Intelligence shows that the company led by Elon Musk deployed 18,700 tonnes of lithium carbonate equivalent onto roads globally in the batteries of its newly sold passenger EVs. This is more than its four closest rivals BYD, Volkswagen, Renault, and Audi combined.
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According to Adamas, through the first three quarters of 2020, 100% of Tesla’s lithium consumption was in the form of lithium hydroxide. However, with the release of the made-in-China Model 3 Standard Range powered by LFP cells from CATL in the fourth quarter of 2020, this share dropped to 84%.
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Sharing the milestone, Tesla wrote, “About three and a half years into its production, and even without a European factory, Model 3 was the best-selling premium sedan in the world, outselling long-time industry leaders such as the 3 Series and E Class. This demonstrates that an electric vehicle can be a category leader and outsell its gas-powered counterparts.”
The chart also showed that deliveries of the Model 3 EV picked strongly up the second half of 2020 after the manufacturer ramped up production at Gigafactory Shanghai – the American manufacturer’s massive manufacturing facility in China.
The Model 3 has long been the best-selling electric sedan in the entire world, but this is the first time when it has outshined its gas-powered counterparts in terms of sales. The American electric vehicle manufacturer noted that exports of made-in-China Model 3 EVs helped it achieve the milestone.
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