The global vehicle market in 2020 had its worst year in decades. European sales were the lowest since 1985, 15% fewer cars left US showrooms and while the decline in China was in single digits, it was the third down year in a row for the world’s largest car market.
But 2020 turned out to be a breakthrough year for electric cars, particularly in the two largest markets. EU sales doubled to 1.3 million with penetration reaching a stunning 19% during the final quarter, just eclipsing sales figures in China for the year.
The MINING.COM EV Metal Index, which tracks the value of battery metals in newly registered passenger EVs (including hybrids) around the world set a fresh monthly record of $512.2 billion in December, racing past the previous record and doubling from a year ago.
The final month of the year always sees a rush of car registration, but as testament to the rapid growth of the industry, December 2020 equals almost half the full-year total in 2017.
After lagging 2019 for most of the year due to covid-19 disruptions, 2020 ended 23% ahead with $2.64 billion worth of battery metals finding its way into new cars.
For the rest of this article: https://www.mining.com/ev-metals-index-beats-record-by-54-as-electric-cars-reach-tipping-point/