The overlooked battery metal

Summary: Graphite is the single largest material in lithium-ion batteries, yet it remains largely ignored in the EV investment narrative. As electric vehicles and energy storage scale up, demand for battery-grade graphite is rising rapidly, while supply and processing capacity struggle to keep pace. When investors discuss EVs, the focus almost always falls on lithium. At times, copper enters the conversation. Rare earths also have their moments. Yet, the most important material inside a lithium-ion battery is often overlooked: graphite. Every EV battery contains roughly 50 to 100 kilograms of graphite in its anode. By comparison, lithium accounts for only eight to 10 kilograms by weight, while nickel and cobalt, despite attracting far greater attention, are also used in smaller quantities. Put simply, graphite is the single largest material component of a lithium-ion battery, quietly doing its job while attention stays elsewher

This article was originally published on February 01, 2026.