Several manufacturers around the globe supply the battery used and assembled in electric vehicles. With the global EV sales surge in 2021, concerns with battery supply and the probability of facing an EV battery shortage arise.
Apart from the 2021 EV battery sales growth, the global passenger EV battery market also grew 70% to 488.3 GWh in 2022.
How are car batteries made of different components?
Leading EV battery makers
Regarding the companies that make electric car batteries, here is the list of EV battery manufacturers bringing their market share to a global stage:
Contemporary Amperex Technology Limited (CATL)
CATL is said to be a global leader in new energy technology, providing ways and solutions to creating new energy applications globally. They were ranked no. 1 in EV battery consumption for five consecutive years. The World Economic Forum selected them as the Global Lighthouse Network. Today, their Yibin production base was certified as the world’s first zero-carbon battery factory.
LG Energy Solutions
LG Energy Solutions is a South Korean supplier of li-ion batteries, providing diverse energy solutions for the future. They will set to protect the environment by transitioning businesses to total renewable energy. They are also a developer of lightweight, high-powered drone batteries, supplier of 13 of the top 20 global automotive brands, and battery-powered spacesuits for NASA.
BYD Lithium Battery Co. Ltd. produces industrial batteries. They sell lithium-ion batteries, polymer batteries, and iron batteries. With over 30 manufacturing sites and 14,000 patents authorized, they are the world’s giant iron-phosphate battery factory. They offer new energy solutions for generating, utilizing, and storing electricity.
Panasonic is another of the world’s lithium-ion battery manufacturers. The company partnered with Tesla to supply exclusive Panasonic EV batteries to Model X, Model 3, Model S, and Model X SUVs. Panasonic has partnered with Toyota to build a lithium-ion battery plant to power up Toyota EVs.
- Global passenger EV battery market grew 70% to 488.3 GWh in 2022
- Chinese EV battery market leaders trade on the Swiss stock exchange
- EV battery market leader CATL reported shares decline in January, BYD increases
- US and Japan partner on EV battery minerals to lessen reliance on China
- CATL explores EV battery technology without lithium, other companies outpaced it
These are just a few of the most significant battery manufacturers for EVs. As demand for electric vehicles continues to grow, more companies will likely enter the market to produce EV batteries.