According to Adamas data, China had the highest total battery capacity deployed in newly sold EVs in the third quarter of 2023 at 98.7 GWh, a 16% increase compared to the second quarter of this year and a 30% jump over the same quarter the year prior. Over the same period, China’s share of the global market slid to 54% in Q3 2023, down from 58% a year ago.
In second place, the US deployed 27.4 GWh onto roads in Q3 of this year, up 9% quarter-over-quarter and 49% over the same quarter the year prior. The US captured 15% of the global market in the latest quarter, up from 14% this time last year.
In third spot, Germany deployed 11.5 GWh in Q3 2023, up 28% versus the quarter prior and 51% over Q3 2022. Germany maintained its share of the global market at 6% in Q3 2023.
In fourth, the UK saw 6.9 GWh deployed onto the wrong side of its roads in Q3 2023, up 14% quarter-over-quarter and 50% year-over-year. The UK represented a mere 4% of the global market in Q3 of this year, up from 3% in Q3 2022.
Rounding off the top five was France with a total of 4.6 GWh deployed in Q3 2023, down 10% quarter-over-quarter but up 53% versus the same quarter the year prior – the fastest growing market among the top five. In total, France captured just under 3% of the market in the latest quarter, down from just above 3% the quarter prior and roughly unchanged year-over-year.
In Q3 2023, a whopping 182.6 GWh were deployed onto roads worldwide, up 11% quarter-over-quarter and 39% over the same quarter the year prior, according to data from the Adamas Intelligence EV Battery Capacity and Battery Metals Tracker.
Through the first nine months of 2023, a total of 477.5 GWh have been rolled onto roads globally in newly sold passenger EVs, up 45% year-over-year and just a stone’s throw shy of the 2022 calendar total.
As we continue to highlight, the rate of battery capacity deployment growth (up 45% YoY) continues to run well ahead of global EV unit sales growth (up 33% YoY), which to-date amounts to just under 13.5 million BEVs, PHEVs and HEVs sold worldwide.
Notably, PHEVs have seen a 50% surge in sales growth so far this year, coupled with an 20% increase in the average PHEV’s battery capacity, from 17.3 kWh to 20.4 kWh. Consequently, PHEVs captured an impressive 12% share of the market by GWh deployed through the first nine months of this year versus just 10% the same period last year.