China is the undisputed leader in battery manufacturing, dominating the global production of essential battery materials such as lithium, cobalt, and nickel. Chinese companies supply 80% of the world’s battery cells and control nearly 60% of the EV battery market. 13. Amperex Technology Limited (ATL) 12. Envision AESC 11. Gotion High-tech 10.
We present the largest and most influential battery manufacturers, exploring their market positions and strategies that have enabled them to dominate the industry. Did you know? China is the undisputed leader in battery manufacturing, dominating the global production of essential battery materials such as lithium, cobalt, and nickel.
According to SME Research, CATL is the world’s largest EV battery manufacturer, with 37.7% of the market share. Plus, it is the only battery supplier with a market share of over 30%. CATL has 6 R&D facilities, five in China and one in Germany. In 2023, they spent about $2.59 billion in R&D, an 18.35% increase from the previous year.
This was driven by demand from its own models and growth in third-party deals, including providing batteries for the made-in-Germany Tesla Model Y, Toyota bZ3, Changan UNI-V, Venucia V-Online, as well as several Haval and FAW models. The top three battery makers (CATL, BYD, LG) collectively account for two-thirds (66%) of total battery deployment.
Still, the top three battery makers are responsible for two thirds (66%) of the total battery deployment, which highlights the importance of scale in this business, in order to have the most competitive product on the market. Panasonic, once upon a time a leader in the automotive EV business, has continued its slow slide down the table.
Overall, the global EV battery market size is projected to grow from $49 billion in 2022 to $98 billion by 2029, according to Fortune Business Insights. (This was originally posted on Elements.) Asia dominates this ranking of the world's largest EV battery manufacturers in 2023.
In this graphic we rank the top 10 EV battery manufacturers by total battery …
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In this graphic we rank the top 10 EV battery manufacturers by total battery …
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In this graphic we rank the top 10 EV battery manufacturers by total battery deployment (measured in megawatt-hours) in 2023. The data is from EV Volumes. Chinese …
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China is the undisputed leader in battery manufacturing, dominating the …
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In this graphic we rank the top 10 EV battery manufacturers by total battery deployment (measured in megawatt-hours) in 2023. The data is from EV Volumes.
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According to a recent report from SNE Research, the top two battery …
China is the undisputed leader in battery manufacturing, dominating the global production of essential battery materials such as lithium, cobalt, and nickel. Chinese …