With nearly 900 gigawatt-hours of manufacturing capacity or 77% of the global total, China is home to six of the world’s 10 biggest battery makers. Behind China’s battery dominance is its vertical integration across the rest of the EV supply chain, from mining the metals to producing the EVs.
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.
“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.”
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.
China is set to remain in the lead China’s dominance in the global battery supply chain is expected to continue. It has topped BNEF’s ranking of 30 leading countries for three years in a row and is projected to remain in the number one position in five years’ time as well.
The US dropped to third in the rankings despite the strong growth in battery demand due to the Inflation Reduction Act. The US placed in the top 10 for all categories except for ESG, where it ranked 16 th.