EV sales surge 50 per cent

Global electric vehicle (EV) sales have seen a 50 per cent year-on-year (yoy) rise, with China and Europe leading the way.

EV sales hit 1.2 million in February 2025, according to Benchmark company Rho Motion, with the Chinese market increasing by 76 per cent yoy.

Europe EV sales are up 20 per cent year-to-date (ytd), with German and UK battery electric vehicle (BEV) markets up more than 40 per cent ytd.

“It’s been a solid start to the year for EV sales globally,” Rho Motion data manager Charles Lester said. “Much of the growth continues to come from China which is seeing a pure electric renaissance this year compared to the hybrid love affair of 2024.”

While Australia remains behind in EV adoption, the boost in EV uptake from other markets should lift demand for Australian battery metals, benefiting local miners and aligning with expansion plans.

Pilbara Minerals (PLS) aims to reach one million tonnes per annum (Mtpa) of spodumene production from the Pilgangoora operation in WA.

The company has continued to advance its operational expansion despite a suppressed lithium pricing environment, with the installation of a new crushing and ore sorting facility taking place.

This facility, considered the largest of its kind in the world, has underpinned Pilgangoora’s growth to 680,000tpa of spodumene production, with the 1Mtpa production target to see upgrades made to PLS’ flagship Pilgan processing plant and a range of supporting infrastructure.

Liontown Resources is also ramping up production at its Kathleen Valley lithium operation to meet growing demand, with a total of 116,854 dry metric tonnes (dmt) of spodumene concentrate produced to December 31.

“Open-pit mining was primarily focused on the main ore bench as the company built ROM (run-of-mine) stockpiles ahead of the transition to full underground mining operations, which is planned for FY26,” Liontown said.

“A total of 6.6 million tonnes (Mt) of material, including clean ore, OSP (organic solderability preservative) material and waste was moved during the period.

“(A total of 1.7Mt) of ore was mined from the open-pit at an average mined grade of 1.24 per cent. Stockpiled ore at December 31 of approximately 1.3 million tonnes was in line with the open-pit plan. Open-pit mining is scheduled to continue into Q3 (the third quarter of) FY26.”

As they advance various development projects, PLS and Liontown Resources could be timing their run for a price revival, where they will not only experience heightened demand for their product but also generate more revenue from each sale.