Global automakers are significantly increasing their spending on battery metals as the race to expand electric vehicle (EV) production accelerates. A new ranking of the top 20 automakers by battery metals spending shows that major carmakers are investing heavily in critical minerals such as lithium, nickel, cobalt, manganese, and graphite used in EV batteries.
According to industry data, Volkswagen Group has emerged as the largest spender on battery metals, overtaking competitors including Tesla. The German automaker’s extensive EV lineup and growing production across brands such as Audi, Porsche, and Skoda have driven significant demand for battery raw materials.
The ranking highlights the rapid growth of EV-related mineral demand. In 2025 alone, automakers spent an estimated $15.6 billion on battery metals used in electric vehicles, representing an 11% increase compared with the previous year.
Companies including Tesla, General Motors, BYD, Hyundai Motor Group, Mercedes-Benz, Stellantis, BMW, Ford, and Toyota also feature prominently in the list as they scale up EV production and secure supply chains for key battery materials. The rising investments reflect the industry’s efforts to ensure access to minerals required for next-generation batteries.
Automakers are increasingly adopting different battery chemistries to manage costs and raw material availability. While lithium and graphite remain essential across most battery types, some manufacturers are shifting toward lithium iron phosphate (LFP) batteries, which reduce dependence on expensive metals like nickel and cobalt.
Despite these technological shifts, demand for battery metals continues to surge due to the rapid global adoption of electric vehicles. Analysts note that automakers’ spending on these minerals will remain a key indicator of EV production growth and the evolving dynamics of the global battery supply chain.