Copper Consumption in New Energy Vehicles H1 2025 [SMM Analysis]

Published: Jul 22, 2025 18:35

Source: SMM

Save

[SMM Analysis:Copper Consumption in New Energy Vehicles H1 2025] On July 16, the China Association of Automobile Manufacturers (CAAM) released data showing:January-June 2025 NEV production reached 6.968 million units, representing a 41.4% year-on-year increase.According to SMM estimates, full-year 2025 NEV production is forecast at 16.29 million units, with second-half production expected to reach 9.32 million units.

》View SMM Copper Prices, Data, and Market Analysis

》Subscribe to View SMM Historical Spot Metal Prices

2025 H1 NEV Production & Copper Usage

On July 16, the China Association of Automobile Manufacturers (CAAM) reported:

Jan-Jun 2025 NEV production: 6.968 million units, up 41.4% YoY.
SMM forecast for full-year 2025: 16.29 million units, with H2 2025 production projected at 9.32 million units.

Breakdown of H1 2025 Production:

Battery Electric Vehicles (BEVs): 4.488 million units
Plug-in Hybrid Electric Vehicles (PHEVs): 2.479 million units

Copper Consumption Trends (2025 H1):

BEV copper intensity: 72 mt/10k units (down from 76 mt/10k units in 2024, driven by tech advancements and cost efficiency).
PHEV copper intensity: 56 mt/10k units (down from 58 mt/10k units in 2024).
Total copper demand:
- BEVs: 322,800 mt (4.488M × 72)
- PHEVs: 138,800 mt (2.479M × 56)
- Total NEV copper demand (H1 2025): 461,600 mt, down 15.6% QoQ but up 36.0% YoY.

2024 Full-Year Comparison

H1 2024 Data:

NEV production: 4.929 million units
- BEVs: 2.988 million units → Copper demand: 227,100 mt (76 mt/10k units)
- PHEVs: 1.941 million units → Copper demand: 112,600 mt (58 mt/10k units)
- Total H1 2024 copper demand: 339,700 mt

H2 2024 Data:

NEV production: 7.954 million units
- BEVs: 4.770 million units → Copper demand: 362,500 mt
- PHEVs: 3.184 million units → Copper demand: 184,700 mt
- Total H2 2024 copper demand: 547,200 mt

Cathode materials

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

24 mins ago

Supply Constraints and Increased Demand Continued to Drive Down Inventory, Spot Premiums Are Expected to Remain Firm Next Week [SMM South China Spot Copper Cathode Weekly Review]

24 mins ago

34 mins ago

Demand for Copper Cathode in the North Market Cooled as Copper Prices Rebounded

[SMM North China Copper Cathode Spot Market] During the week, demand for copper cathode in the market cooled as copper prices rebounded. However, supply in the northern market had previously been tight for a time, copper cathode inventory was not high, and downstream buyers picked up goods under long-term contracts during the week, giving suppliers some impetus to hold prices firm.

34 mins ago

3 hours ago

China Metallurgical Group's Electrolytic Copper Project Exceeds Purity Design Value

On March 23, the 150,000-ton annual electrolytic copper project undertaken by the Second Company of China No.15 Metallurgical Construction Group Co., Ltd. for Jiangxi Copper Hongyuan Copper Industry Co., Ltd. successfully produced a cumulative total of 1,300 tons of high-purity cathode copper, with product purity reaching 99.997%, exceeding the design value of 99.9935%.

3 hours ago