Top 10 EV Battery Manufacturers in World by Market Share
The global market for battery manufacturers is expected to grow from a 17 billion net worth to 95 billion dollars in a span of a decade. With the world turning towards decarbonization, these companies producing EV batteries are gaining momentum.
CATL manufactures Solid State battries and lithium-ion batteries for great names in the automobile industry like; Peugeot, Hyundai, Honda, BMW, Toyota, Volkswagen, and Volvo. Tesla also receives CATL-manufactured batteries for its Shanghai-based assembly line.
1. CATL, ChinaMarket Share :- 34%
The South-Korean energy solution supplier LG had to repay General Motors; $1.9 billion to compensate for the hazards put forth due to the defective batteries in 143,000 Chevy Bolt EVs In the United States. Despite this controversial scrutiny that the company was put through it remained the second-largest manufactures of EV batteries.
2. LG Energy, KoreaMarket Share :- 14%
BYD has 11 manufacturing plants all over China, which involve the manufacturing of 200kwh of batteries. In August 2021, Fudi Industry Co. Ltd a different section of the BYD Industries launched a complete battery dedicated unit.
3. BYD, ChinaMarket Share :- 12%
The company is currently working with Tesla to start production of its new 4680 battery cell format which is expected to come with some significant capacity improvements. Panasonic is expected to start production next year.
4. Panasonic, JapanMarket Share :- 10%
SK on Founder has the biggest goal planned for his company, he wants to make it the largest EV battery manufacturer by 2030. Being the fifth largest Ev battery manufacturer it has a manufacturing capacity of 13.2 GWh. South Korea’s SNE research reported that the company had hit $13.2 billion in sales.
5. SK On, KoreaMarket Share :- 7%
Samsung, in 2019 signed a long-term battery supply contract with BMW until 2031, the German Automobile giant was interested in the new era cylinder batteries which were also used by Tesla. It originally intends to reach a 23-gigawatt hour (GWh) yearly output capacity, with future plans to enhance it to 33 GWh.
6. Samsung SDI, KoreaMarket Share :- 5%
CALB has signed a preliminary agreement to build a battery plant in Europe and plans to increase capacity by 100 gigawatt-hours in Guangzhou and Jiangmen. It also has a project to increase the production of 100,000 tonnes of lithium cathode materials annually.
7. CALB, ChinaMarket Share :- 4%
Established in 1998, and headquartered in Heifei, China is a manufacturer of Lithium batteries. Guoxan manufactured a new high-energy density LFP. The company has stated that the new cells are 210 GWh per kilogram which could be a world record.
8. Guoxuan, ChinaMarket Share :- 3%
Sunwoda is committed to manufacturing advanced lithium battery integration technology in China. When Sunwoda was first established, its focus was on consumer batteries. The EVB (Electric Vehicle Battery) division has announced many investments as a result of the company’s recent considerable growth in its electric vehicle battery industry.
9. Sunwoda, ChinaMarket Share :- 2%
SVOLT the tenth in this list has plans to set up their second battery plant in Germany in the state of Brandenburg, the same as Tesla. It is the first time SVOLT has entered the top ten from their spin-off from Great Wall Motors to a battery plant in Germany.