The Chinese company BYD ranked second with a market share of 15.8 percent, followed by South Korean LG Energy Solution with a market share of 13.6 percent. CATL (Contemporary Amperex Technology Co. Limited) was the largest battery manufacturer, having overtaken its main Chinese, South Korean, and Japanese competitors.
China is the undisputed leader in battery manufacturing, dominating the global production of essential battery materials such as lithium, cobalt, and nickel. Chinese companies supply 80% of the world’s battery cells and control nearly 60% of the EV battery market. 13. Amperex Technology Limited (ATL) 12. Envision AESC 11. Gotion High-tech 10.
According to SME Research, CATL is the world’s largest EV battery manufacturer, with 37.7% of the market share. Plus, it is the only battery supplier with a market share of over 30%. CATL has 6 R&D facilities, five in China and one in Germany. In 2023, they spent about $2.59 billion in R&D, an 18.35% increase from the previous year.
Contemporary Amperex Technology Co. Limited ( CATL ) is the manufacturer of the battery. It is a Chinese battery manufacturer and technology company founded in 2011, specializing in the manufacturing of lithium-ion batteries for electric vehicles and energy storage systems, as well as battery management systems.
The Top 5 EV Battery Manufacturers in the World are CATL, LGES, Panasonic, BYD, and SK On.
While the investments in battery manufacturing have been global, the market is still dominated by China. The New York Times estimates that China produces about 75% of all electric vehicle battery cells and does more refining of the major raw inputs than every other country in the world combined.