Fig. 3: Aggregated CAM production material costs* for NMC 95, NMC 811, NMC 622, NMC 532, and NMC 111 in (1) 2024 global material supply scenario**, (2) U.S.-sourced lithium, cobalt, and nickel scenario, and (3) Europe-sourced lithium, cobalt, and nickel scenario*** (in million USD GWh⁻¹).

*Due to low-cost shares, costs per unit (USD t⁻¹) of manganese, sodium hydroxide, and ammonium hydroxide are constant across all NMC chemistries. **Materials sourced according to regional material supply shares in 2024⁶ for lithium (Australia 36.7%, Chile 20.4%, Zimbabwe 9.2%, Argentina 7.5%, Brazil 4.2%, Canada 1.8%, Portugal 0.2%, other 20.1%), cobalt (DR Congo 75.9%, Canada 1.6%, Australia 1.2%, Cuba 1.2%, other 20.1%), and nickel (Indonesia 59.5%, Canada 5.1%, Australia 3.0%, other 32.4%); due to missing data for some material production costs (e.g., lithium in China), all other countries are aggregated in ‘other’ (costs of ‘other’ are calculated based on the capacity-weighted average of global metal production costs of remaining mines analyzed in this study). ***Due to a lack of data for cobalt production costs in Europe, average Canadian cobalt production costs are assumed based on similar resource types, processes, and other economic factors (labor costs, etc.).