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The EV battery world has modified so much previously few years. Let’s begin with the ten largest EV battery producers via most of 2022, however then additionally take a look at how this listing is completely different from just a few years in the past.
As you may see above, CATL (Contemporary Amperex Technology Co. Limited) is the massive canine. It instructions greater than a 3rd of the worldwide EV battery market all by itself (simply above one third, 34%). The second greatest provider of EV batteries is LG Energy Solution (previously referred to as LG Chem), which had a a lot decrease however nonetheless important 14% of the worldwide EV battery market.
BYD is on LG Vitality Answer’s tail, with 12% of the market, and Panasonic is true behind BYD, with 10% share.
A pair extra South Koreans spherical out the highest 6. SK Innovation has 7% of the market and Samsung SDI has 5% of the market. You’ve then acquired a handful of Chinese language firms once more, however they’re all tiny in comparison with cousins CATL and BYD.
That’s 2022. The outcomes aren’t that shocking in the event you keep watch over EV battery information — automotive partnerships, factories, and so forth. For those who’ve been following this marketplace for lengthy, nonetheless, the outcomes are strikingly completely different from only a handful of years in the past.
To start out with historic comparisons, let’s return 8 years. Back in 2014 (chart beneath), Panasonic (which was supplying all of Tesla’s batteries) was king of the hill, adopted by Nissan-associated AESC. In third, we get to LG Chem, after which BYD was in 4th, simply barely forward of Mitsubishi/GS Yuasa. You possibly can see just a few of these large names from the 2022 chart — LG Chem, BYD, and Panasonic. They’re simply not fairly in the identical order. And, most notably, the massive canine (CATL) is lacking.
In 2015 (chart beneath), these three main gamers famous above (Panasonic, BYD, and LG Chem) consolidated the rostrum positions, with AESC falling to 4th. There’s nonetheless no signal of CATL, and whereas BYD & LG Chem could also be within the prime 3, Panasonic is worlds above them. Once more, Panasonic was Tesla’s sole battery cell provider again then, and Tesla was ramping up manufacturing quicker than the competitors.
Jumping ahead to 2019 and 2020 (chart beneath), you’ve acquired Panasonic nonetheless in 1st in 2019 and also you’ve acquired LG Chem in third and BYD in 4th. Now, nonetheless, as a substitute of AESC within the prime 4 (it has dropped to sixth), we see that CATL has shot as much as 2nd place. Just about unheard of some years prior, it was the rising star. And rise it did! It edged ahead of LG Chem in 2021 and by no means appeared again.
We will take a look at that chart from the highest of this text as soon as extra. In 2022, CATL is unmatched. It provides batteries for a number of main automakers, Tesla included.
Humorous sufficient, again in April 2018, we printed a narrative titled “Chinese Battery Giant CATL To Become #1 EV Battery Producer By 2020?” Perhaps not fairly in 2020, but it surely did in 2021 and it positive is much forward of the EV battery competitors to this point in 2022!
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