Speak to a specialist

Register and we will customize a solution that meets your exact needs. When you speak to one of our experts, you may be qualified to sample our industry-leading products on a no-cost basis.

You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.
Generic Hero BannerGeneric Hero Banner
Latest market news

EV sales surge for GM, Ford

  • Market: Battery materials
  • 03/01/25

US automakers General Motors (GM) and Ford achieved record sales of electrified vehicles (EVs) for the full year in 2024.

GM sold 114,432 EVs in 2024, up 50pc from the previous year. Its total vehicle sales grew by 4pc, reaching 2.7mn units — its best performance since 2019.

GM's EV sales gained momentum throughout 2024, with fourth quarter sales reaching 42,000 vehicles, an increase of 10,000 units from the third quarter and nearly double the sales of the second quarter.

Ford's EV sales totaled 285,291 vehicles in 2024, up by 38pc from the previous year. Its total vehicle sales reached 2.08mn units, up 4pc from a year earlier.

The automaker's F-series hybrid and electric models captured an estimated 76pc of the segment share, positioning Ford as the second-largest US electric vehicle brand behind Tesla.

By Carol Luk

Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News
20/03/25

Canberra backs Li battery projects in Western Australia

Canberra backs Li battery projects in Western Australia

Sydney, 20 March (Argus) — Australia's federal government will partly underwrite four lithium-ion battery projects in Western Australia (WA), boosting the state's energy storage capacity by 2.6GWh from late 2027. Canberra is supporting the projects through its Capacity Investment Scheme (CIS), which sets a revenue floor on big battery projects for up to 15 years. The government has not revealed the specific revenue floors linked to the newly underwritten projects. Australian renewable energy developer PGS Energy will build the largest of the four newly-underwritten batteries, a 1.2GWh energy storage system in Marradong. The company's Marradong battery will be co-located with a solar farm and connected to WA's South West Interconnected System (Swis), a grid stretching across its most populous regions, once it becomes operational. French energy producer Neoen is also developing a 615MWh project just outside Perth, under the scheme. The company has been building large batteries across Australia, with public support, for multiple years. Its Collie Battery Energy Storage System is connected to Swis, and has been storing and discharging 877MWh of energy since October 2024. The two other batteries underwritten on 20 March are smaller, with a combined capacity of 780MWh, and located in rural parts of the state. The Australian government's latest funding announcement comes just months after it on 11 December 2024 underwrote eight other Australian battery projects capable of storing 3.6GWh of power under the CIS. Those projects were scattered across the country, covering three states but excluding WA. Canberra will also underwrite another set of batteries, with a combined capacity of 16GWh, in September. Over 100 projects, with a combined capacity of 135GWh, have applied to be part of CIS' September funding round. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Find out more
News

Altilium produces first 100pc recycled cells at UK BIC

18/03/25
News
18/03/25

Altilium produces first 100pc recycled cells at UK BIC

London, 18 March (Argus) — UK-based battery recycler Altilium has produced its first cells using end-of-life electric vehicle (EV) batteries and gigafactory waste at the UK Battery Industrialisation Centre (UK BIC) in Coventry. The cells will now undergo a validation study with a leading carmaker, Altilium said. EU regulations require EV batteries to have minimum levels of recycled lithium, cobalt and nickel from 2031, with the level rising in 2036. "This milestone marks the first time full battery circularity has been achieved in the UK, from recovering critical minerals… to manufacturing a new battery for validation with a leading UK automotive OEM," Altilium chief operating officer Christian Marston said. Altilium's planned recycling plant in Teesside will produce 30,000 t/yr of cathode active material, enough to meet nearly 20pc of forecast UK demand by 2030. Altilium's recycled materials are also of a higher quality than mined materials, and offer significant reductions in climate change impacts and cost, according to research by Imperial College London released last month. Lifecycle analysis has determined that Altilium's recycled materials could have a 74pc smaller climate change impact than primary mined materials from a Chinese supply chain, according to consultancy Minviro. By Chris Welch Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Toyota to build UK battery recycling plant

18/03/25
News
18/03/25

Toyota to build UK battery recycling plant

London, 18 March (Argus) — Japanese automaker Toyota plans to build a recycling plant in the UK to process spent electric vehicle batteries. The Toyota Circular Factory will be located in Burnaston in Derbyshire, UK, the site of an existing Toyota manufacturing plant which already produces Corolla vehicles. In its first phase, the factory will be able to process 10,000 vehicles each year, recovering the nickel, cobalt, lithium, graphite and other battery materials, as well as recycling other parts of the vehicle. "As a next step for the Toyota Circular Factory concept, we plan to roll out similar operations across Europe," Leon van der Merwe, vice-president of Circular Economy at Toyota Motor Europe, said. "And we're not stopping at our own facilities — we are eager to collaborate with other organisations who share our passion of circularity and commitment to carbon neutrality." Toyota says it is committed to being fully carbon neutral by 2040 and having a 100pc reduction in carbon in its European vehicle line-up by 2035. By Thomas Kavanagh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

S Korea's automotive output, sales, exports rise in Feb

18/03/25
News
18/03/25

S Korea's automotive output, sales, exports rise in Feb

Singapore, 18 March (Argus) — South Korea's automotive output, domestic sales and exports rose in February compared with a year earlier, with the country closely monitoring potential US trade measures. The country's auto output rose by 17pc on the year to almost 352,000 units in February, according to South Korea's trade and industry ministry (Motie). Domestic sales rose by 15pc on the year to around 133,000 units, supported by a 30pc reduction on individual consumption tax on passenger cars until the first half of 2025, which has been capped at 1mn Korean won ($690). Exports rose by 17pc on the year to almost 233,000 units, with auto export revenue hitting an all-time high for the month of February at $6.07bn. Motie is planning to collect the automobile industry's opinions on the possibility of US trade measures, and will continue to closely monitor the potential impact and prepare "prompt" response measures, it said on 18 March. Eco-friendly vehicle domestic sales rose sharply by 50pc on the year to about 60,350 units in February, while exports rose by 32pc to almost 69,000 units. Eco-friendly vehicles in South Korea refers to hybrids, battery electric vehicles (BEVs), plug-in hybrids and hydrogen-fuelled vehicles. Hybrid domestic sales were up by 25pc on the year to about 44,600 units, while BEV domestic sales almost quadrupled to about 14,300 units, which Motie attributed to the EV subsidies it introduced in January. The January support measures included additional 20pc subsidies for young South Koreans' first EV and highway toll fees exemptions for EV owners until 2027. But BEV exports in February dipped by 2pc on the year to about 23,150 units, while hybrid exports continued to rise by almost 62pc to about 39,500 units. By Joseph Ho South Korea's car exports in 2025 units South Korea's domestic car sales in 2025 units Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Japanese firms invest in French rare earths producer

17/03/25
News
17/03/25

Japanese firms invest in French rare earths producer

Tokyo, 17 March (Argus) — Japan's state-owned energy agency Jogmec and metal importer Iwatani agreed to jointly invest in Lyon-based French rare earths producer Caremag, aiming to start procuring dysprosium and terbium from as early as 2027. Jogmec and Iwatani will jointly invest as much as €110mn ($120mn) in exchange for securing a term-contract for heavy rare earths (HRE) supply from the French firm, the Japanese consortium announced on 17 March. Iwatani will import around 250 t/yr of dysprosium and 45 t/yr of terbium, a Jogmec representative told Argus , adding that those volumes account for around 20pc of Japan's potential demand of HREs. Delivery from Caremag could start as early as from 2027, according to Jogmec, given commercial operations at the French firm is expected to start sometime in late 2026. Caremag plans to build a rare earth plant in the Lacq industrial park in southwestern France to separate rare earths from 2,000 t/yr of recycled magnets and 5,000 t/yr of raw ore, according to the Japanese ministry of trade and industry (Meti). Tokyo has been trying to diversify supply sources of rare earths that are used for producing permanent magnets, Jogmec said, to reduce Japan's "extremely high dependency on a specific country", possibly referring to China. Jogmec and fellow Japanese trading house Sojitz in 2023 invested in Australia-based Lynas Rare Earths , securing 65pc of Lynas' dysprosium and terbium production. The project with the French firm is part of a wider diversification strategy, according to Jogmec, adding that Japan is aiming to diversify supply sources of rare earths other than dysprosium and terbium. Tokyo in 2022 designated permanent magnets as one of the country's 11 strategically critical items. Tokyo and Paris signed the "Japan-France Declaration on Cooperation in The Field of Critical Minerals" in May 2024, according to Meti, aiming to expand bilateral co-operation on rare earths projects in France. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more