In this edition, the Kallanish Power Materials team looks at what has driven Norway’s electric vehicle success, with the country achieving a BEV penetration rate of 89% last year. The report also features the lithium market in two countries: Australia and Brazil. The former is bracing to have a new hit in earnings from its lithium exports, even though volumes are rising. The latter is boosting its efforts to capitalise on its lithium resources and become a major global player.

Our company spotlight this week is on Vale Base Metals, a subsidiary of Brazilian nickel and iron ore giant Vale. In addition to the traditional hydrogen and metals prices, battery materials trade data, and trending news of the week, be sure to check the fresh data on EV sales. This data set provides insights into the adoption of EVs in major markets driven primarily by China, which sold 10.9m such cars in 2024.