China has 6 of the top 10 EV battery makers with 60 per cent market share, led by CATL and Warren Buffett-backed BYD Chinese electric vehicle (EV) battery makers dominated the global market in 2022, with six companies featuring among the world’s top 10 players and accounting for a 60.5 per cent share amid a doubling of EV sales on the mainland.
Among other companies on the list, only SK On’s installed capacity increased by more than 100%, while LG Energy Solution increased by only 6.9%. At present, major Chinese battery companies, including Sunwoda, have started to significantly expand their production capacity. The capacity target of CATL in 2025 is about 600GWh.
As of September 2021, there are 47,400 lithium-ion battery companies. In the past 10 years, the overall registration of lithium-ion battery companies in China has shown an upward trend. So, among the many Chinese lithium-ion battery manufacturers, which one has the best product quality and the most advanced technology?
“Chinese EV battery companies are now the global leaders in terms of both technology and sales volume,” said Davis Zhang, a senior executive at Suzhou Hazardtex, a supplier of specialised vehicle batteries. “But they need to expand abroad to ease overcapacity woes.”
Lithium technologies are expected to advance quickly over the next few years. However, companies in China and beyond are frantically pursuing alternative batteries not centred around lithium, in part because the minerals needed to make the current options come from just a few countries.
Bali, November 12, 2022 – China continues to dominate BloombergNEF’s (BNEF) global lithium-ion battery supply chain ranking, for the third time in a row, for both 2022 and its projection for 2027, thanks to continued support for the electric vehicle demand and raw materials investments.