It is projected that between 2022 and 2030, the global demand for lithium-ion batteries will increase almost seven-fold, reaching 4.7 terawatt-hours in 2030. Much of this growth can be attributed to the rising popularity of electric vehicles, which predominantly rely on lithium-ion batteries for power.
The global demand for batteries is surging as the world looks to rapidly electrify vehicles and store renewable energy. Lithium ion batteries, which are typically used in EVs, are difficult to recycle and require huge amounts of energy and water to extract.
Today, we will take a look at the list of the top lithium-ion battery suppliers for passenger cars and vans, which was shared with us by EV Volumes. According to the report, from January 1 through June 30, 2023, the top battery manufacturer by capacity is CATL with almost 93 gigawatt-hours deployed and a big chance for 200 GWh in 2023.
Nevertheless, they are a critical element in the EV transition, and big business too. In this provisional report on 2023, demand for lithium-ion batteries in the light vehicle automotive sector grew around 40% last year, up to 712 GWh from 507 GWh in 2022. So, which companies are leading the way in supplying the EV industry?
In 2022, Samsung SDI delivered 2.2 billion small-size lithium-ion batteries to the EV industry, enabling car manufacturers to increase their input into the global supply chain of electric cars. 5. SK Innovation Co. Since 1982, SK has pursued its long-term vision for cleaner transportation.
Lithium-ion batteries have revolutionized our everyday lives, laying the foundations for a wireless, interconnected, and fossil-fuel-free society. Their potential is, however, yet to be reached.