Who are the world's leading EV battery makers in 2021?

When IEEE Spectrum provided a snapshot of the world’s leading EV battery makers in 2021, China’s Contemporary Amperex Technology Co. (CATL) and South Korea’s LG Energy Solution were industry’s twin titans, each boasting a 26 percent market share.

How much money do EV batteries make in 2021?

In 2021, according to Statista, battery makers took in US $26 billion. By 2023, global EV battery revenues had mushroomed (according to a separate service, Markets and Markets) to $132.6 billion. It stands to reason that this was because of concomitant increases in EV production and sales.

Which battery maker has the most competitive EV product?

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.

Which EV brand has the most EVs in 2023?

CATL is now the big brother; in 2023, it gobbled up more than one-third of the market (37.4 percent), while LG’s market presence slipped to 14 percent. Chinese battery maker BYD, which supplies batteries for Ford’s EVs as well as its own line of electric vehicles, was in a fourth-place tie with Samsung SDI in the mid-2021 ranking.

Which companies supply 87 percent of EV batteries?

Just six companies —BYD, CATL, LG Energy Solution, Panasonic, Samsung SDI, and SK Innovation—were responsible for supplying 87 percent of batteries and battery metals in passenger EVs in the second half of 2020.

Will the Shenzhen battery market continue to increase in 2024?

And with other brands lining up to get their batteries in 2024 (Kia, KG Mobility, etc.), expect the Shenzhen make to continue increasing its share throughout the year. This was done at the cost of LG, which lost share in 2023, going from 17% in 2022 to 15% by the end of 2023.