Battery materials
Overview
Growth in global electric vehicles (EVs) and plug-in hybrid (PHEV) production has put a spotlight on battery materials. While lithium-ion batteries dominate the current market, this is a rapidly emerging technology space where improved range or charge times can quicky shift industry sentiment and investment in a different direction.
Argus is at the forefront of battery materials pricing and reporting with coverage of common battery metals (lithium, cobalt, nickel, graphite), industry-grade cathodes and black mass. As experts in specialty metals and rare earths, we future-proof our price assessment portfolio with a range of electronic metals crucial to the manufacture of technology deployed in modern vehicles.
Our Argus Battery Materials and Argus Non-Ferrous Markets services help businesses to understand these complicated supply chains, including price volatility and sustainability challenges around future demand.
Minor metals: Battery metals
As automakers continue to invest in electric vehicle production and power companies explore infrastructure that includes energy storage programmes, the metals contained in lithium-ion batteries supporting these products has attracted interest from investors, institutions and manufacturers alike.
Argus is well positioned to provide insight into price volatility, global supply and responsible material sourcing for all manufacturers and investors in this sector.
Highlights of Argus battery materials coverage
- Understand the context of significant price movements and industry trends with a weekly PDF that highlights the most important market news across lithium, cobalt, graphite, nickel and other common battery materials
- Mitigate risk and perform reliable forward planning with 1-year and 10-year forecasts across different battery metals, chemistries and industries
- Gain a competitive edge with industry-specific tools, such as the Black Mass Calculator that estimates the intrinsic value of different battery chemistries (including cathodes like NCM111, NCM523, LFP, NCA)
- Invest with confidence knowing Argus is IOSCO-compliant with over 50 years of experience delivering trusted price data and market intelligence
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India revises EV incentives to focus on performance
India revises EV incentives to focus on performance
Mumbai, 15 January (Argus) — India has revised its policy for the electric vehicle sector as it enters a more mature phase of EV transition and focuses on efficiency and cost control. From 13 January only those EVs that meet performance and efficiency requirements will qualify for incentives. The change marks a shift from volume-driven subsidies toward performance-based incentives. The requirements include a minimum 80km driving range, a top speed of 40 km/h, regenerative braking systems and standardised energy-consumption testing. Under this change, the production-linked incentive (PLI) auto scheme has been aligned with the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-drive) scheme. The PM e-drive scheme offers immediate discounts on two- and three-wheel vehicles and provides financial incentives for establishing EV charging stations. The government has allocated 20bn rupees ($237.7mn) to support companies installing fast charging stations for two- and three-wheelers. The PM e-drive scheme runs until March 2028, but subsidies for electric two- and three-wheelers will stop in March 2026. Support for electric buses, trucks, ambulances, along with charging stations and testing centres, will continue through the scheme because encouraging widespread adoption is still difficult and requires significant investment. Strong EV sales in in 2025 supported this shift in policy, with over 2.3mn units sold during the year from around 2.02mn in 2024. Around 8pc of the total number of new vehicles including two-, three- and four-wheelers were registered in 2025, government data show. Sales of electric two- and three-wheelers and buses are rising quickly in major cities, showing rapid growth in public transport electrification. This adoption level has strengthened the government's confidence that the sector can sustain growth even with more demanding quality and efficiency requirements for EV manufacturing. On the manufacturing side, the PLI scheme facilitated the production of 1.39mn EVs, comprising 1.04mn electric two-wheelers, 238,385 electric three-wheelers, 79,540 electric four-wheelers, and 1,391 electric buses as of end 2025. The scheme was approved in September 2021 and will run until March 2028 with a budget of Rs259.38bn. Although some car part manufacturers may face higher expenses due to upgrades required by the new standards, the majority of vehicle producers are expected to gain advantage from the policy change. The industry is also gradually aligning with the government's localisation objectives, progress in domestic value-addition certification shows. The tightening of EV norms reflects growing confidence in India's electric mobility ecosystem and a clear policy intent to prioritise quality, efficiency and self-reliance. The changes are expected to support a more sustainable and resilient EV market aligned with India's long-term goals of achieving 50pc EV penetration by 2030 and net-zero emissions by 2070. By Deepika Singh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Produção de EVs no Brasil deve saltar em 2026
Produção de EVs no Brasil deve saltar em 2026
Sao Paulo, 7 January (Argus) — A produção de veículos elétricos (EVs, na sigla em inglês) no Brasil vai disparar em 2026, à medida que mais montadoras chinesas abrem plantas de montagem no país, e fabricantes de outras nacionalidades começam a responder com seus próprios modelos eletrificados, uma mudança que deve desacelerar o crescimento de importações de EVs. O mercado brasileiro de EVs vem sendo sustentado por importações desde o primeiro boom de carros elétricos chineses no Brasil, em 2023, quando BYD e GWM importaram cerca de 30.000 unidades, de acordo com dados da associação brasileira de veículos elétricos (ABVE). Espera-se que isso mude em 2026, com o escalonamento — ou início — de produção das linhas de montagem de pelo menos seis marcas chinesas, além do lançamento de diversos novos veículos eletrificados fabricados localmente por montadoras tradicionais. Geely , MG Motor e Omoda/Jaecoo — uma marca do grupo Chery — têm planos de começar a montar EVs no Brasil em 2026. BYD, GWM e Chevrolet, esta por meio de uma joint-venture com as chinesas SAIC e Wuling, iniciaram a montagem de carros elétricos no país já em 2025. A Chery fabrica carros tanto eletrificados, quanto à combustão no Brasil desde 2017. As fabricantes chinesas vêm, nos últimos três anos, intensificando sua presença no mercado latino-americano — e seus veículos têm tido uma alta taxa de aceitação na região. Marcas da China foram responsáveis por cerca de 10pc dos veículos de passeio vendidos no Brasil em 2025, segundo dados da consultoria especializada Bright Consulting. Diversas montadoras chinesas já veem o Brasil como um polo industrial capaz de montar veículos localmente e vendê-los tanto no mercado brasileiro quanto em outros países da América Latina. A Bright projeta que as vendas de veículos elétricos no Brasil mais que dobrem em 2026, passando de 275 mil para 600 mil unidades, alcançando 22,9pc do total das vendas esperadas no país para este ano. Os carros chineses devem representar pouco menos da metade das vendas de EVs no país em 2026, com 270.000 unidades, um aumento de 61pc em comparação com o ano anterior. Desse total, 170.000 automóveis devem ser importados da China. Em 2025, montadoras chinesas importaram cerca de 140.000 unidades prontas para serem vendidas, segundo a Bright. Os outros 100.000 veículos elétricos que as montadoras chinesas pretendem vender no Brasil neste ano serão montados em território nacional, de acordo com a Bright. Esse movimento vai, efetivamente, limitar o crescimento das importações de EVs, dado que a oferta doméstica reduzirá a necessidade de trazer carros prontos da China. BYD, GWM e Chevrolet montaram um total de 25.000 carros elétricos no Brasil em 2025, segundo estimativas da Argus com base em dados publicados pelas montadoras. Marcas chinesas e montadoras tradicionais vão fabricar algo entre 250.000-300.000 EVs no Brasil em 2026, fazendo deste o primeiro ano em que o país terá uma produção relevante de carros elétricos. A contraofensiva das montadoras tradicionais Marcas tradicionais com produção de carros à combustão já estabelecida no Brasil devem intensificar o desenvolvimento e a produção de veículos elétricos em 2026 para disputar a preferência dos consumidores brasileiros com as montadoras chinesas, disse a Bright. A receptividade dos consumidores brasileiros a marcas chinesas — e EVs no geral — aumentou depois da pandemia da Covid-19, época em que as montadoras tradicionais subiram os preços e fabricantes da China entraram no mercado com carros relativamente mais acessíveis equipados com mais tecnologia e designs mais modernos. Carros elétricos estão se tornando cada vez mais populares entre os consumidores brasileiros e já conquistaram mercado mesmo fora das grandes cidades. Motoristas que percorrem longas distâncias diariamente podem economizar até R$ 2.500 por mês devido à diferença entre os custos da eletricidade e dos combustíveis, segundo a gestora de pontos de recarga Tupi. Marcas como Stellantis, Volkswagen e Toyota têm planos de fabricar novos modelos híbridos em 2026. A maioria desses lançamentos será de modelos híbridos leves (MHEV), um veículo à combustão equipado com uma pequena bateria não plug-in de 12V ou 48V que auxilia o motor — geralmente flex — e melhora sua eficiência. MHEVs são legalmente considerados EVs no Brasil, sendo elegíveis a isenções de IPVA em alguns estados, além de outros benefícios oferecidos a carros elétricos plenos. Híbridos leves são, geralmente, mais baratos do que híbridos plenos (HEV) e costumam ser vendidos por marcas mais conhecidas pelo consumidor brasileiro, fazendo deles uma opção mais atraente para um comprador que procura um EV mais barato ou uma marca mais estabelecida. A Bright espera que 200.000 MHEVs sejam vendidos no Brasil em 2026, sendo a maioria fabricada localmente. A Caoa Chery, outra marca do grupo Chery, é a única chinesa que produz MHEVs no Brasil. Suas compatriotas vendem apenas EVs plenos, incluindo HEVs e carros 100pc elétricos. A Toyota é a única montadora não chinesa que produz HEVs no país. A Bright projeta que um total de 2,62 milhões de veículos sejam vendidos no Brasil em 2026, um aumento de 2,3pc em relação às 2,56 milhões de unidades comercializadas em 2025. Por Pedro Consoli Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2026. Argus Media group . Todos os direitos reservados.
Viewpoint: Asia energy storage to accelerate in 2026
Viewpoint: Asia energy storage to accelerate in 2026
Singapore, 7 January (Argus) — Stronger government signals and new industry initiatives to support energy storage systems (ESS) in Asia-Pacific are set to accelerate deployments, creating ripple effects across the battery and lithium market in 2026 as participants eye a new growth engine. ESS deployment remains uneven across Asia-Pacific. China accounts for 88pc of the region's 85GW capacity in 2024, according to industry group Energy Institute. The remainder is concentrated mainly in Australia and South Korea. These countries aim to scale up ESS buildout further. China is targeting 180GW of capacity by 2027, while South Korea plans to reach 2.22GW capacity by 2029. Australia has committed A$500mn ($337.75mn) to expanding local battery manufacturing. Other Asian nations are also picking up pace. Vietnam is targeting up to 16.3GW of ESS by 2030, while Malaysia launched its first 400MW auction this year. Governments are increasingly supporting integrated renewables and battery projects. India and the Philippines awarded such projects this year; Australia is auctioning dispatchable clean power contracts , and Malaysia intends to do this year, according to lawmakers. "In Asia-Pacific, while spot markets exist in some jurisdictions, most markets still lack mature price signals and ancillary service frameworks needed for merchant energy storage investment," nonprofit EnergyTag's Asia Pacific head Shailesh Telang told Argus . ESS deployment is still primarily backed by tenders, subsidies, regulated tariffs, or state-supported procurement, Telang noted. "Over time, market forces can take over, but today policy remains the primary driver," he said. Industry initiatives could further support growth. Regional advocacy group Fessia launched in September and will initially focus on smoothing policy for ESS deployment and bankability in Vietnam and the Philippines. Corporate standard-setter Greenhouse Gas Protocol is also consulting on switching from annual to hourly matching of clean power purchases . The requirement could spur demand for nighttime clean energy — and, in turn, batteries. But the clause is hotly debated and could feature leeway for smaller industries and emerging economies. Meanwhile, the South Korean government's first ESS central contract market auction in 2025 drew intense interest, selecting eight operators out of 51 proposals for 563MW of ESS capacity — largely concentrated on the mainland. A second auction round followed later. South Korea's ESS momentum, driven by its 2029 capacity target, aligns with domestic battery makers' pivot from electric vehicles. Top battery maker LG Energy Solution's (LGES) plans to produce lithium-iron-phosphate (LFP) ESS batteries domestically, citing the domestic energy ecosystem, starting with 1GWh. South Korean battery makers' ESS focus will likely intensify as the US EV market slows. Leading firms such as Samsung SDI, LGES, and SK On have all redirected resources to tap the ESS market, particularly in the US, given the data centre and renewable energy build-out. Their once EV-dedicated lines are increasingly repurposed to produce ESS as EV market uncertainty lingers. LFP reality sets in Chinese-dominated LFP chemistry continues to see surging adoption in South Korea , which has firmly stepped into the space and closed multiple LFP ESS supply deals in 2025. But China's dominant position in LFP still appears immovable, thanks partly to the scale of its domestic ESS and EV markets. The Chinese government is on track to more than double its new energy storage capacity to 180GW by the end of 2027 from 2024, it said in an action plan . Strong growth persists among Chinese domestic energy storage firms such as Eve Energy, Cornex, Envision, Great Power Energy and Technology, and Hithium, commented a Chinese battery recycler — though the sector remains overshadowed by industry giant CATL. Anticipation of robust ESS growth in China for 2026 — where Argus heard estimates between 30-100pc across multiple analysts and market participants — reflects varying degrees of optimism. Yet, one consensus stands out among market participants: ESS growth is confirmed and is dominating lithium market discussions near the end of 2025, supporting lithium prices and injecting fresh hope for market expansion. By Joseph Ho and Liang Lei Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EV technology takes centre stage at US CES
EV technology takes centre stage at US CES
London, 6 January (Argus) — New EV platforms and solid state batteries were demonstrated at this year's Consumer Electronics Show (CES) in Las Vegas, showing that electrification is still high on the agenda in the US and progressing towards delivering the next generation of technology despite political scepticism. This year's CES focused on interchangeable and easy-to-use EV platforms. Companies such as Ample demonstrated swappable battery platforms, targeting ride-sharing and high-use vehicles. CATL, the world's largest battery maker, used the show to again tout its own battery swap network, aiming to have up to 140 cities covered by its swap stations by the end of 2026. Elsewhere, new EV platforms were demonstrated. Everatti and Aria displayed their joint EV platform, designed specifically for low-volume, heritage and specialist car brands. It is aimed at carmakers that do not operate large-scale production, but rather bespoke models, allowing these producers to electrify without having to transition entire production facilities. "This is about removing the structural barriers that have made low-volume electrification slow, expensive and risky," Everrati chief executive Justin Lunny said. Solid State shifts from theory to delivery Several firms demonstrated commercially viable solid state batteries this week, with Finnish company Donut Lab demonstrating a working solid state battery that it claims is designed for up to 100,000 charging cycles, much longer than standard lithium-ion batteries. "Solid-state batteries have always been described as ‘just a few years away,'" Donut Lab chief executive Marko Lehtimaki said. "Our answer is different. They're ready today. Not later." Verge Motorcycles also showed how solid-state batteries are beginning to leave the lab and enter actual products, unveiling an updated version of its TS Pro electric superbike equipped with all-solid-state battery technology developed in collaboration with Donut Lab. The new Verge TS Pro, among the first motorcycles with solid-state cells on the road, boasts dramatic improvements in range, with variants offering up to roughly 370 miles (595km) on a single charge and rapid charging in minutes, highlighting how advanced cell chemistry can enhance real-world vehicle performance. This represents one of the most tangible consumer-facing applications of solid-state tech yet seen at CES, and a milestone in shifting industry narratives from theoretical breakthroughs to deployable, high-performance EV batteries. By Thomas Kavanagh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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