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The Key Minerals in an EV Battery

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minerals in an EV battery infographic

Breaking Down the Key Minerals in an EV Battery

Inside practically every electric vehicle (EV) is a lithium-ion battery that depends on several key minerals that help power it.

Some minerals make up intricate parts within the cell to ensure the flow of electrical current. Others protect it from accidental damage on the outside.

This infographic uses data from the European Federation for Transport and Environment to break down the key minerals in an EV battery. The mineral content is based on the ‘average 2020 battery’, which refers to the weighted average of battery chemistries on the market in 2020.

The Battery Minerals Mix

The cells in the average battery with a 60 kilowatt-hour (kWh) capacity—the same size that’s used in a Chevy Bolt—contained roughly 185 kilograms of minerals. This figure excludes materials in the electrolyte, binder, separator, and battery pack casing.

MineralCell PartAmount Contained in the Avg. 2020 Battery (kg)% of Total
GraphiteAnode52kg28.1%
AluminumCathode, Casing, Current collectors35kg18.9%
NickelCathode29kg15.7%
CopperCurrent collectors20kg10.8%
SteelCasing20kg10.8%
ManganeseCathode10kg5.4%
CobaltCathode8kg4.3%
LithiumCathode6kg3.2%
IronCathode5kg2.7%
TotalN/A185kg100%

The cathode contains the widest variety of minerals and is arguably the most important and expensive component of the battery. The composition of the cathode is a major determinant in the performance of the battery, with each mineral offering a unique benefit.

For example, NMC batteries, which accounted for 72% of batteries used in EVs in 2020 (excluding China), have a cathode composed of nickel, manganese, and cobalt along with lithium. The higher nickel content in these batteries tends to increase their energy density or the amount of energy stored per unit of volume, increasing the driving range of the EV. Cobalt and manganese often act as stabilizers in NMC batteries, improving their safety.

Altogether, materials in the cathode account for 31.3% of the mineral weight in the average battery produced in 2020. This figure doesn’t include aluminum, which is used in nickel-cobalt-aluminum (NCA) cathode chemistries, but is also used elsewhere in the battery for casing and current collectors.

Meanwhile, graphite has been the go-to material for anodes due to its relatively low cost, abundance, and long cycle life. Since the entire anode is made up of graphite, it’s the single-largest mineral component of the battery. Other materials include steel in the casing that protects the cell from external damage, along with copper, used as the current collector for the anode.

Minerals Bonded by Chemistry

There are several types of lithium-ion batteries with different compositions of cathode minerals. Their names typically allude to their mineral breakdown.

For example:

  • NMC811 batteries cathode composition:
    80% nickel
    10% manganese
    10% cobalt
  • NMC523 batteries cathode composition:
    50% nickel
    20% manganese
    30% cobalt

Here’s how the mineral contents differ for various battery chemistries with a 60kWh capacity:

battery minerals by chemistry

With consumers looking for higher-range EVs that do not need frequent recharging, nickel-rich cathodes have become commonplace. In fact, nickel-based chemistries accounted for 80% of the battery capacity deployed in new plug-in EVs in 2021.

Lithium iron phosphate (LFP) batteries do not use any nickel and typically offer lower energy densities at better value. Unlike nickel-based batteries that use lithium hydroxide compounds in the cathode, LFP batteries use lithium carbonate, which is a cheaper alternative. Tesla recently joined several Chinese automakers in using LFP cathodes for standard-range cars, driving the price of lithium carbonate to record highs.

The EV battery market is still in its early hours, with plenty of growth on the horizon. Battery chemistries are constantly evolving, and as automakers come up with new models with different characteristics, it’ll be interesting to see which new cathodes come around the block.

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Electrification

Visualizing the Supply Deficit of Battery Minerals (2024-2034P)

A surplus of key metals is expected to shift to a major deficit within a decade.

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This graphic represents how key minerals for batteries will shift from a surplus in 2024 to a deficit in 2034.

Visualizing the Supply Deficit of Battery Minerals (2024-2034P)

The world currently produces a surplus of key battery minerals, but this is projected to shift to a significant deficit over the next 10 years.

This graphic illustrates this change, driven primarily by growing battery demand. The data comes exclusively from Benchmark Mineral Intelligence, as of November 2024.

Minerals in a Lithium-Ion Battery Cathode

Minerals make up the bulk of materials used to produce parts within the cell, ensuring the flow of electrical current:

  • Lithium: Acts as the primary charge carrier, enabling energy storage and transfer within the battery.
  • Cobalt: Stabilizes the cathode structure, improving battery lifespan and performance.
  • Nickel: Boosts energy density, allowing batteries to store more energy.
  • Manganese: Enhances thermal stability and safety, reducing overheating risks.

The cells in an average battery with a 60 kilowatt-hour (kWh) capacity—the same size used in a Chevy Bolt—contain roughly 185 kilograms of minerals.

Battery Demand Forecast

Due to the growing demand for these materials, their production and mining have increased exponentially in recent years, led by China. In this scenario, all the metals shown in the graphic currently experience a surplus.

In the long term, however, with the greater adoption of batteries and other renewable energy technologies, projections indicate that all these minerals will enter a deficit.

For example, lithium demand is expected to more than triple by 2034, resulting in a projected deficit of 572,000 tonnes of lithium carbonate equivalent (LCE). According to Benchmark analysis, the lithium industry would need over $40 billion in investment to meet demand by 2030.

MetricLithium (in tonnes LCE)Nickel (in tonnes)Cobalt (in tonnes)Manganese (in tonnes)
2024 Demand1,103,0003,440,000230,000119,000
2024 Surplus88,000117,00024,00011,000
2034 Demand3,758,0006,082,000468,000650,000
2034 Deficit-572,000-839,000-91,000-307,000

Nickel demand, on the other hand, is expected to almost double, leading to a deficit of 839,000 tonnes by 2034. The surge in demand is attributed primarily to the rise of mid- and high-performance electric vehicles (EVs) in Western markets.

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Visualizing the EU’s Critical Minerals Gap by 2030

This graphic underscores the scale of the challenge the bloc faces in strengthening its critical mineral supply by 2030.

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This graphic underscores the scale of the challenge the EU faces in strengthening its critical mineral supply chains under the Critical Raw Material Act.

Visualizing EU’s Critical Minerals Gap by 2030

The European Union’s Critical Raw Material Act sets out several ambitious goals to enhance the resilience of its critical mineral supply chains.

The Act includes non-binding targets for the EU to build sufficient mining capacity so that mines within the bloc can meet 10% of its critical mineral demand.

Additionally, the Act establishes a goal for 40% of demand to be met by processing within the bloc, and 25% through recycling.

Several months after the Act’s passage in May 2024, this graphic highlights the scale of the challenge the EU aims to overcome. This data comes exclusively from Benchmark Mineral Intelligence, as of July 2024. The graphic excludes synthetic graphite.

Securing Europe’s Supply of Critical Materials

With the exception of nickel mining, none of the battery minerals deemed strategic by the EU are on track to meet these goals.

Graphite, the largest mineral component used in batteries, is of particular concern. There is no EU-mined supply of manganese ore or coke, the precursor to synthetic graphite.

By 2030, the European Union is expected to supply 16,000 tonnes of flake graphite locally, compared to the 45,000 tonnes it would need to meet the 10% mining target.

Metal 2030 Demand (tonnes)Mining (F)Processing (F)Recycling (F)Mining Target Processing Target Recycling Target
Lithium459K29K46K25K46K184K115K
Nickel403K42K123K25K40K161K101K
Cobalt94K1K19K6K9K37K23K
Manganese147K0K21K5K15K59K37K
Flake Graphite453K16K17KN/A45K86KN/A

The EU is also expected to mine 29,000 tonnes of LCE (lithium carbonate equivalent) compared to the 46,000 tonnes needed to meet the 10% target.

In terms of mineral processing, the bloc is expected to process 25% of its lithium requirements, 76% of nickel, 51% of cobalt, 36% of manganese, and 20% of flake graphite.

The EU is expected to recycle only 22% of its lithium needs, 25% of nickel, 26% of cobalt, and 14% of manganese. Graphite, meanwhile, is not widely recycled on a commercial scale.

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