The global electric vehicle (EV) market continued its upward trajectory in February 2025, posting strong year-over-year growth despite a slight slowdown in monthly sales, according to Adamas Intelligence’s latest report.
By Ryan Chigoche
This positive trend comes at a time when Zimbabwe’s lithium sector is set to grow significantly, with production expected to reach 3.26 million metric tons in 2025, up from 2.47 million metric tons in 2024.
This surge in Zimbabwe’s lithium production aligns with the growing global demand for battery materials, positioning the country as a key supplier for the expanding EV industry.
According to Adamas Intelligence’s February battery raw materials deployment report, a total of 1.79 million passenger EVs—including battery electric vehicles (BEVs), plug-in hybrids (PHEVs), and hybrid electric vehicles (HEVs)—were sold worldwide during the month.
While this marked a 4% decline from January, it represented a robust 37% increase compared to February 2024, signaling continued consumer interest and market resilience.
Regional dynamics varied, with the Asia-Pacific region seeing the most pronounced growth. Although sales dipped 6% month-over-month, they surged 54% year-on-year. Europe followed with a 12% annual increase, while the Americas stood out as the only region to post a month-over-month gain—up 4% compared to January and 21% over the previous year.
Battery deployment trends mirrored the sales data. In total, 62,237 megawatt-hours (MWh) of battery capacity were installed in new passenger EVs globally—a 2% drop from January but a notable 49% increase year-over-year. Chinese battery giant CATL led the pack with 17,900 MWh deployed, while automaker BYD topped the charts among vehicle manufacturers with 7,904 MWh.
Adamas Intelligence attributes part of the battery capacity growth to changing vehicle preferences. BEV and PHEV sales are rising faster than those of HEVs, resulting in a 9% increase in the average battery size per vehicle compared to February 2024. This indicates a shift toward longer-range, fully electric models, particularly in markets with expanding charging infrastructure.
As EV production rises, demand for key battery materials is also intensifying.
In February, 35,957 tonnes of lithium carbonate equivalent (LCE) were used in EV batteries—a 46% increase from the same month last year. Nickel use followed a similar pattern, with 23,143 tonnes deployed globally—up 25% year-on-year. Tesla led among automakers with 3,181 tonnes, while CATL topped the list of suppliers with 5,718 tonnes. However, the average nickel content per EV battery declined by 8%, hinting at a continued shift toward alternative chemistries.
Cobalt deployment rose to 3,970 tonnes, an increase of 14% from the previous year, despite a 6% month-over-month drop, while manganese use in EV batteries totaled 4,896 tonnes, up 18% year-on-year. Volkswagen took the lead among automakers for the month, while CATL remained the top cell supplier. Meanwhile, graphite—an essential component in nearly all EV batteries—saw a 52% year-on-year increase, with 57,475 tonnes deployed globally. CATL and BYD again led in graphite deployment.
Following these global trends, Zimbabwe is emerging as a strategic supplier of battery minerals, particularly lithium, which is essential to the expanding EV industry. With some of the world’s most promising hard-rock lithium reserves, the country is increasingly viewed as a key link in the global supply chain.
According to the Chamber of Mines Zimbabwe, the local lithium sector is set for a strong performance in 2025, with production expected to rise to 3.26 million metric tons, up from 2.47 million metric tons in 2024.
The growth will be largely driven by the ramp-up of operations from new producers that came online in 2024, alongside major investments aimed at expanding processing capacity across the country.
Among the key contributors to this surge is Bikita Minerals, which plans to invest US$100 million in smelting infrastructure in 2025.
This initiative, part of a broader US$500 million project, is expected to increase smelting capacity by 95%, with completion targeted for December 2025.
In parallel, Sandawana Mine is advancing a US$28 million investment in a lithium concentrate processing plant, scheduled for commissioning by March 2026. The facility is projected to double the mine’s production capacity, reaching 500,000 tonnes of concentrate annually.
Beyond raw extraction, the Zimbabwean government is encouraging local value addition, including plans for domestic lithium hydroxide processing, which would elevate the country from an exporter of raw ore to a producer of refined battery inputs.
The government has also implemented measures to regulate and formalize the sector, aiming to ensure sustainable development while maximizing long-term economic benefits.
With the global shift toward clean transportation accelerating, Zimbabwe is well-positioned to supply the essential raw materials powering the transition. As EV production scales up worldwide, resource-rich nations like Zimbabwe will also be important in ensuring the resilience of global supply chains.
