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Global Passenger EV, Hybrid Battery Market Expanded 40% In 2023

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The global passenger xEV (BEVs, PHEVs, HEVs) battery market continued to expand quickly in 2023, reaching about 690 GWh.

The global passenger xEV battery market continued to expand quickly in 2023, partially thanks to record vehicle sales and partially because the average battery capacity is increasing. According to Adamas Intelligence in 2023, about 689.2 gigawatt-hours of battery capacity was deployed onto roads globally in all newly sold passenger xEVs. That's about 40% more than a year ago, the company estimates.

5 GWh Adamas Intelligence also noted that the 2023 volume alone is worth 37% of all battery capacity ever deployed. 2023's 690 GWh is more than the volume deployed in eight years, from 2014 and 2021 combined. Top brands While close to 200 brands contributed to the total result, only 16 managed to exceed 10 GWh, while two—Tesla and BYD—were above 100 GWh. Tesla deployed 132.1 GWh of batteries, according to the report, 37% more than a year ago. BYD achieved 101.

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Global Passenger EV, Hybrid Battery Market Expanded 40% In 2023The global passenger xEV (BEVs, PHEVs, HEVs) battery market continued to expand quickly in 2023, reaching about 690 GWh.
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