Last Updated on 08th January 2024
Also known as a “traction battery,” an electric vehicle battery (EVB) is used to supply power to the electric motor of a battery electric vehicle (BEV) or hybrid electric vehicle (HEV).
The heart of an EV is the battery. As lithium has a very high energy density and can withstand charging and discharging well, mostly lithium-ion batteries are used in EVs.
In fact, “star mineral,” “white gold,” and “21st century oil” were the nicknames given to lithium since it was first used for manufacturing batteries.
In the words of Elon Musk:
“In an electric future, batteries are as essential to transport as oil is today.”
Who makes batteries that keep EVs running? Keep reading to learn more about the world’s leading EV battery manufacturers.
Table of Contents
Global Top 10 EV Battery Manufacturers
Contemporary Amperex Technology Co., Ltd. (CATL)
LG Energy Solution Ltd.
BYD Co., Ltd.
SK Innovation Co., Ltd.
Samsung SDI Co., Ltd.
China Aviation Lithium Battery Co., Ltd. (CALB)
Guoxuan High-tech Power Energy Co., Ltd.
Sunwoda Electronic Co., Ltd.
Blackridge Research & Consulting – Global Electric Vehicle (EV) Battery Market Report
Here are the world’s leading EV battery manufacturers (based on the EV lithium-ion battery production capacity):
Location: Ningde, Fujian, China
Contemporary Amperex Technology Co., Ltd. (CATL) is a Chinese manufacturer of lithium-ion batteries for EVs and energy storage systems and battery management systems.
According to the company, CATL has been “ranked No. 1 globally in EV battery consumption volume for five consecutive years.”
Headquartered in Ningde, Fujian, the company has 5 R&D centers and 13 production bases at various global locations.
CATL provides solutions for passenger vehicles, commercial applications, energy storage systems, and battery recycling.
CATL’s small and light high-power cells are tailored for hybrid EVs and provide key benefits, such as:
In addition, CATL’s electric private vehicle solutions are known for fast-charging technology, impressive system energy density, and ultra-long driving mileage.
Apart from launching its cutting-edge “Qilin” batteries in 2022, the world’s largest EV battery maker launched its EVOGO battery swap services in Hefei, Anhui.
Location: Seoul, South Korea
LG Energy Solution Ltd. was founded in 2020 because LG Chem’s battery business officially became a separate company to address the growing demand from global automotive manufacturers.
The company has production bases in China, Korea, Poland, and the USA, with a business portfolio that includes:
LG Energy Solution’s major fields of research include battery materials, lithium-ion cylindrical and polymer batteries, PEV and PHEV batteries, and ESS batteries for grids and residential applications. With 30 years of R&D experience, the company has evolved into an ideal partner for global automakers to execute projects across the world.
Location: Shenzhen, Guangdong, China
BYD Co., Ltd. (“BYD” is an abbreviation of “Build Your Dreams”) was founded by Chinese chemist Wang Chuanfu and is one of China’s largest privately owned enterprises with several subsidiaries.
Over the years, BYD has evolved into a leading technology company with more than 30 industrial parks across 6 continents and an industry leader in automotives, electronics, renewable energy, and rail transit.
As a globally leading producer of rechargeable batteries, including lithium-ion batteries, NCM batteries, and NiMH batteries, BYD owns the entire supply chain layout—from mineral battery cells to battery packs.
BYD’s batteries are ideal for a variety of uses, such as consumer electronics, energy storage, and new energy vehicles. The company launched the “Blade Battery” to mitigate battery safety concerns in electric vehicles like electric cars.
BYD’s Blade Battery successfully passed a nail penetration test. Moreover, its optimized battery pack structure increases the battery pack space by over 50%.
In addition, the robust chemistry and universal design of BYD’s cobalt-free LFP batteries (lithium iron phosphate batteries) make them suitable for use in a wide range of temperatures and areas worldwide.
Location: Kadoma, Osaka, Japan
Founded in 1918 by Japanese industrialist Kōnosuke Matsushita, Panasonic Corporation (formerly known as “Matsushita Electric Industrial Co., Ltd.) is a globally recognized Japanese conglomerate with company operations organized into various “domain companies,” including appliances, automotive, and industrial solutions.
For instance, Panasonic Automotive is a leading Li-ion battery supplier in the global market for hybrid, plug-in hybrid, and full-electric vehicles with 40+ years of battery leadership.
The company also designs, engineers, and manufactures complete battery systems. It is known for its advanced lithium-ion battery technology that provides the benefits of lower costs, as well as improved energy density and driving range.
Furthermore, Panasonic Energy of North America (PENA) is one of the world’s largest lithium-ion battery cell producers with a vision of a clean energy society by producing the “world’s safest, highest quality, and lowest cost batteries.”
Apart from the company’s facility in Sparks, Nevada, a new facility in De Soto, Kansas, will produce cylindrical Li-ion batteries for electric vehicles to expand production capacity in North America and advance the EV industry in the U.S.
Location: Seoul, South Korea
SK Innovation Co., Ltd. is an energy and chemical company with eight subsidiaries, including SK on Co., Ltd., which has a successful track record of developing a high-energy density EV battery and mass-producing batteries like the NCM66 battery.
SK on’s business portfolio includes:
The company uses high-nickel technology (nickel is a critical mineral of EV battery chemistry) and extensive manufacturing experience to supply batteries for EVs, HEVs, and PHEVs. Additionally, the local production process and supply network enable the collection of stable raw materials and an efficient supply of battery products.
In addition, SK on’s partnerships with key automobile OEMs and proprietary lithium extraction technology are furthering the company’s goal of building a BaaS ecosystem through battery rentals, recharging, reuse, and recycling.
Location: Yongin-si, South Korea
Samsung SDI Co., Ltd. is a South Korean battery and electronic materials manufacturer with a global network of production, R&D, and sales and is credited with releasing the world’s first flexible (bendable and rollable) battery.
The company has consistently gained a significant market share in the small-sized battery market since starting the lithium-ion rechargeable battery business in 2000.
Samsung SDI’s Li-ion battery cells are available in cylindrical, prismatic, and polymer types and provide various advantages, such as:
Samsung SDI makes small-sized Li-ion battery cells and battery packs for the following:
Location: Luoyang, Henan, China
China Aviation Lithium Battery Co., Ltd. (CALB) is a global leader in new energy technology. CALB provides complete product solutions (cells and modules) and full life-cycle management for the following:
Furthermore, the CALB simulation field supports the complete development process—from product conceptual design to delivery through the following simulations:
Safety reliability simulation (includes an assessment for battery capacity fade and Li-plating window analysis)
Electrochemistry simulation (includes cell performance evaluation and cell design optimization)
Structural mechanics simulation (includes structural strength analysis and swelling strength analysis)
Thermal management simulation (includes thermal distribution and propagation)
Location: Hefei, Anhui, China
Guoxuan High-tech Power Energy Co., Ltd. (also known as “Hefei Gotion Power Energy Co., Ltd.” and “Gotion High-Tech”) is a leading Chinese lithium-ion battery maker with a sizeable lithum-ion battery cell manufacturing footprint.
The company has a subsidiary in Fremont, California, United States, and various R&D centers worldwide. It also has an Industrial Technology Research Institute with comprehensive inspection and testing capabilities for batteries, battery systems, and power battery materials.
The company’s product portfolio includes:
Gotion High-Tech provides battery products for the following:
Location: Shenzhen, Guangdong, China
Sunwoda Electronic Co., Ltd. (Sunwoda) is one of the industry leaders in the lithium-ion battery industry. Sunwoda’s business segments include 3C battery, energy service, EV battery, intelligent manufacturing and industrial internet, smart hardware, and testing service.
The company began its EV battery business in 2008. It owns several production bases across the world.
Sunwoda Electric Vehicle Battery Co., Ltd. is a wholly owned subsidiary of Sunwoda Electronic Co., Ltd. It provides EV battery pack solutions through advanced lithium battery integration technology and has complete R&D and manufacturing capabilities.
The company’s proprietary battery management system (BMS) is known for highly automated cell sorting, modular assembly, and battery packaging with entirely automated production lines.
Sunwoda’s EV battery solutions comprise the following:
xEV Battery Pack
Location: Ganzhou, Jiangxi, China
Starting with supplying battery systems to electric motorcycle customers, Farasis Energy expanded its battery business by entering the Chinese automotive industry in 2016 with large-scale battery delivery to Chinese OEMs.
In 2021, Farasis Energy started a lithium-ion cell manufacturing facility in Wuhu, Anhui province, with an annual production capacity of 24 GWh. The company’s battery products are available as “cells” and “modules” with tailor-made configurations for individual requirements.
Farasis Energy offers battery solutions for electric commercial and passenger vehicles and industrial machines.
Electric passenger vehicles (cars, motorcycles, aviation, and powersports)
Farasis Energy’s electric car batteries ensure fast charging, long range, and long life-cycle due to their high energy density and high performance.
The company is expanding its fourth-generation lithium-ion battery cells for EVs with an ultra-high-power variant that can achieve a fast charging time (less than 15 mins) while maintaining a high energy density (300 Wh/kg).
Electric commercial vehicles (buses and trucks)
The electrification of buses and trucks reduces air and noise pollution and makes cargo transport more environmentally friendly.
Farasis Energy’s battery systems for electric buses and trucks are known for their long life-cycle, safety and stability, and strong temperature adaptability.
In addition to established players in the EV battery market, other key companies include A123 systems, Envision AESC, PEVE, and SVOLT.
Despite potential alternatives like sodium-based batteries and solid-state batteries, lithium-ion batteries continue to dominate the energy storage technology landscape.
The global EV battery market has been growing exponentially due to various factors, such as the expansion of global auto manufacturers into the EV market, increasing adoption of eco-friendly electric vehicles to reduce carbon emissions, and better financing and insurance options for EVs.
Blackridge Research & Consulting’s Global Electric Vehicle (EV) Battery Market report provides a comprehensive market analysis across multiple regions. It helps you gain a deeper understanding of the key industry players, evolving competitive landscape, emerging market trends and developments, and more.
Contact us to learn more about the introductory offer and instant savings on your first or multiple purchases. Blackridge Research & Consulting provides custom research services and free report customization.
Furthermore, all report purchases come with up to 60 minutes of exclusive analyst access and post-purchase analyst support up to a year.
EV battery manufacturing involves expertise and precision to produce safe, reliable batteries of different cell chemistries.
The rising demand for EVs and changing technology trends are encouraging battery makers to build state-of-the-art EV battery plants and boost EV battery manufacturing capacity.
Against the backdrop of tough competition between EV battery market players, the well-known automaker General Motors announced a huge investment to secure access to lithium—one of the essential battery materials for electric vehicles.
The strategic investment is part of GM’s effort to facilitate direct sourcing of critical EV raw materials and components, make the EV battery supply chain more secure, manage cell costs, and create jobs.
Toyota Motor is also catching up with competitors by planning to build a battery plant in North Carolina.
Additionally, Cirba Solutions will invest in a South Carolina battery recycling plant to process end-of-life hybrid and EV batteries, among others.
Furthermore, Saudi Arabia plans to build its first battery chemicals complex to process cathode active materials for the ever-growing EV battery market.
In the electric vehicle era, battery manufacturers are leveraging advanced battery technology to develop high-capacity, high-efficiency EV batteries and changing the energy paradigm of electric vehicles.