Copper consumption in new energy vehicles in H1 2025 [SMM analysis]

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       On July 16, CAAM released data showing China's new energy vehicle production reached 6.968 million units in January-June 2025, up 41.4% YoY. SMM estimates China's 2025 new energy vehicle production will total 16.29 million units, with H2 2025 production projected at 9.32 million mt.

       H1 2025 new energy vehicle production stood at 6.968 million units, including 4.488 million battery electric vehicles (BEVs) and 2.479 million plug-in hybrid electric vehicles (PHEVs), according to SMM. Due to technological advancements and cost reductions, copper consumption per 10,000 BEVs dropped to 720 mt in 2025, while PHEVs consumed 560 mt per 10,000 units. Consequently, H1 2025 copper consumption totaled 323,100 mt for BEVs and 138,800 mt for PHEVs, with overall new energy vehicle copper usage reaching 462,000 mt, down 15.6% MoM but up 36.0% YoY.

       In 2024, copper consumption per 10,000 units was 760 mt for BEVs and 580 mt for PHEVs. H1 2024 new energy vehicle production reached 4.929 million units (2.988 million BEVs and 1.941 million PHEVs), resulting in copper consumption of 227,100 mt for BEVs and 112,600 mt for PHEVs. Total H1 2024 new energy vehicle copper usage was 339,700 mt. H2 2024 production totaled 7.954 million units (4.77 million BEVs and 3.184 million PHEVs), with corresponding copper consumption of 362,500 mt for BEVs and 184,700 mt for PHEVs. Overall H2 2024 new energy vehicle copper usage reached 547,200 mt.

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