Growing Chinese EV pack sizes help battery demand to grow despite falling EV sales

Total battery demand from EVs grew 4% in the January and February 2026 compared to the same two-month period last year, despite sales of EVs themselves falling by 8%.  The contraction in EV sales has been offset by a growing average battery pack size, resulting in a rise in battery demand for EV applications. Pack sizes have been growing in passenger cars and light duty electric vehicles (PC and LDV EVs). This trend has been supplemented by growing sales of electric buses and trucks, which have pack sizes several times larger than those for PC and LDVs.