Top 18 Lithium Ion Battery Manufacturers in 2025

Amidst the global surge in electrification and the rise of the energy storage market, lithium batteries, which play a pivotal role, are experiencing explosive demand growth. Consequently, driven by this demand, the expansion footprint of lithium battery companies has been spread globally at a brisk pace.

Overall, the global lithium-ion battery production capacity surpassed 2,000GWh in 2022 and is expected to maintain a 33% compound annual growth rate over the next four years, achieving over 6,300GWh of production capacity by 2026.

Regarding distribution, Asia’s lithium battery production capacity took an absolute lead in 2022, accounting for 84% of the total capacity, and is anticipated to continue this dominant position over the next four years.

Meanwhile, the other two major consumer markets for new energy vehicles, Europe and the Americas, foster domestic battery industry chain development through encouraging policies.

Regionally, Asia had the highest capacity growth rate in 2022, reaching 77%, followed by the Americas and Europe. At the same time, to stimulate domestic lithium battery industry chain development, the U.S. and the European Union have successively enacted policies in recent years, encouraging battery companies to expand into Europe and America.

Considering the construction and release cycle of production capacity in Europe and America, 2025 will be the peak release time for their capacity, with the growth rate reaching its zenith that year.

Country-wise, the top five nations for lithium-ion battery production capacity in 2022 were China, the U.S., Poland, Sweden, and South Korea. Together, these five countries accounted for 93% of the total production capacity, demonstrating a highly concentrated market landscape.

With global development, lithium-ion batteries play a vital role in our daily lives. They can be applied in home energy storage, Robotics, AGVs, RGVs, medical equipment, Industrial Equipment, and solar energy storage, etc. (Want to understand the advantages of lithium batteries over lead acid? Continue reading our next article for an in-depth comparison.)

Best 18 Lithium Ion Manufacturers

Some of the top 10 lithium-ion battery manufacturers in the world include:

1. CATL (Contemporary Amperex Technology Co., Limited)

CATL is a global leader in lithium ion battery development and manufacturing for electric vehicles, energy storage systems, and battery management systems (BMS). CATL is the biggest lithium-ion battery manufacturer for EVs globally, producing 96.7 GWh of the global 296.8 GWh, up 167.5% yearly.

Key Points About CATL:

• Global Influence: CATL’s influence extends globally, with partnerships and collaborations with major automakers worldwide. Their batteries power various electric vehicles, from compact cars to commercial trucks.
• Innovation: CATL is known for its continuous innovation in battery technology. It is a pioneer in cobalt-free lithium iron phosphate (LFP) batteries, which offer enhanced safety and environmental benefits.
• Sustainability: The company strongly emphasizes sustainability, producing batteries that contribute to reduced greenhouse gas emissions and adopting clean energy solutions.
• Diverse Applications: CATL’s batteries are not limited to electric vehicles. They are also used in renewable energy storage systems and stationary energy solutions, supporting the integration of clean energy sources into the grid.
• Global Recognition: CATL has received recognition and accolades for its contributions to the electric vehicle and energy storage industries, solidifying its position as an industry leader.

CATL Product Launch Timeline:

• April 9, 2024: CATL introduced its brand-new energy storage product, the CATL Tener energy storage system, at the Beijing Museum. The Tener energy storage system is a standard 20-foot container-based energy storage system using lithium iron phosphate (LFP) technology. With four key innovations—materials, system structure, green manufacturing, and business model—the Tener ESS addresses long-standing challenges in the energy storage sector, such as safety, capacity fade, lifespan, and efficiency degradation. It delivers exceptional performance with zero capacity and power loss for the first five years, significantly enhancing the reliability and stability of energy storage solutions.
• November 2024: CATL unveiled a second-generation sodium-ion battery with an energy density of 200Wh/kg. This new battery is designed for improved performance and is expected to launch in 2025.

2. LG Energy Solution, Ltd.

LG Energy Solution, Ltd is a battery company headquartered in Seoul, South Korea, and it is the only one of the world’s top four battery companies with a background in chemical materials.LG Chem produced Korea’s first lithium-ion battery in 1999 and succeeded in supplying automotive batteries for General Motors Volt in the late 2000s. Then, the company became a battery supplier to global car makers, including Ford, Chrysler, Audi, Renault, Volvo, Jaguar, Porsche, Tesla and SAIC Motor.

• Newest Battery Technology: LG Energy Solution is set to present its next-generation home battery solutions. Although the sources do not provide specific details, this move emphasizes the company’s dedication to cutting-edge battery technology that can revolutionize the residential energy storage sector. Keep an eye out for updates on these exciting developments.
• Production Capacity Expansion: LG Energy Solution is actively expanding its production capacity. The company is investing $5.5 billion in battery plants in the U.S. This significant investment aims to address the increasing demand for electric vehicle (EV) batteries and renewable energy storage solutions, contributing to the sustainable future of clean energy.
• Collaboration with Automotive Giants: LG Energy Solution’s significance in the EV industry is evident from its partnership with automakers like Tesla. The company has ambitions to produce new battery cells for Tesla, underscoring its role in shaping the EV landscape.
• Smart Factory Systems: LG Energy Solution is also expanding its intelligent factory systems to North American Joint Ventures (JVs). This expansion aims to optimize production processes and enhance efficiency, ensuring that LG remains a leading player in battery manufacturing.
• LG Paves the Way for an Electrifying Future: Due to less interest in electric vehicles (EVs) in Europe, LG New Energy’s profits decreased by 53.7% in the last part of 2023. The company said this drop happened because car companies are being more careful with how much stock they keep and because the prices of metals keep decreasing. This means the world might not want as many EV batteries. Still, the global EV market is expected to grow by about 20% this year, with North America’s growth likely staying strong at around 30%.

Looking forward to 2024, LG New Energy thinks its money will increase between 0% and 10%. They also hope that their ability to make 45 to 50 GWh of batteries will get some financial help from tax breaks given by the U.S. government next year.

LG Energy Solution Product Launch Timeline

• September 2024: LG Energy Solution introduced its next-generation pouch-type high-voltage mid-nickel cell-to-pack (CTP) battery. This new CTP battery offers a maximum driving range of up to 600 kilometers for large trucks and features enhanced safety measures, including technology that releases heat and gas outside the pack in case of a fire.

3. Panasonic Corporation 

Panasonic is one of the world’s three largest lithium batteries. Due to the NCA positive electrode and complex battery management system, The batteries are more efficient and safe. Panasonic is the supplier of Tesla.

• Newest Battery Technology: Panasonic is making significant strides in battery technology by introducing all-solid-state batteries. These batteries represent a breakthrough in energy storage, offering higher energy density, improved safety, and faster charging capabilities than traditional lithium-ion batteries. This innovation aligns with Panasonic’s commitment to revolutionizing the battery industry.
• Production Capacity Expansion: Panasonic has ambitious plans to meet the growing demand for electric vehicle (EV) batteries. The company aims to build four additional EV battery plants. This expansion demonstrates Panasonic’s commitment to supporting the EV revolution and underscores its role as a key player in the battery manufacturing industry.
• Tesla Partnership: Panasonic’s collaboration with Tesla remains strong. In 2023, Panasonic plans to start producing new Tesla batteries, highlighting its integral role in providing batteries for one of the world’s leading electric vehicle manufacturers. This partnership ensures that Panasonic’s advanced battery technology contributes to Tesla’s electric vehicles.
• North American Battery Highlight: Panasonic showcased its battery capabilities at CES 2023, emphasizing its North American battery market presence. This presence signifies Panasonic’s commitment to serving the North American region with cutting-edge battery solutions.

Panasonic Energizes the Market with Battery Breakthroughs

In 2023, Panasonic from Japan secured the third spot globally, outside of China, in the battery market. They reached this position with an impressive 44.6 GWh of batteries supplied, marking a 26.8% increase compared to the previous year. Holding a 14% market share, Panasonic’s growth is noteworthy. As one of Tesla’s main battery providers, Panasonic’s enhanced 2170 and 4680 battery models are set to boost its future market share centered around Tesla.

4. SAMSUNG SDI Co., Ltd. 

Unlike leading lithium battery suppliers, SDI mainly engages in small-scale lithium-ion batteries, and the packaging of Samsung SDI Power Battery is mostly prismatic. Compared with cylindrical cells, prismatic cells can provide more protection and safety. However, the disadvantage of prismatic cells is that too many models make the process easier to unify.

• Lithium Battery Technology: Samsung is at the forefront of innovation in lithium battery technology. Their commitment to building a second battery plant in the United States emphasizes their dedication to driving advancements in energy storage. These batteries are expected to offer improved energy density, longer life cycles, and enhanced safety features, making them essential for various applications, including electric vehicles (EVs).
• Production Capacity Expansion: In collaboration with Stellantis, Samsung has initiated plans to build a second battery plant in the United States. This move demonstrates their commitment to expanding production capacity to meet the increasing demand for lithium batteries, especially in the electric vehicle sector. The new gigafactory will significantly contribute to lithium battery production in 2023 and beyond.
• Partnerships for Growth: Samsung and Stellantis’ partnership is a testament to their shared commitment to sustainable mobility. By establishing a second gigafactory in the U.S., both companies are investing in the clean energy transition and driving innovation in lithium battery technology.
• Global Impact: Samsung’s focus on lithium batteries benefits the United States and has a global impact. Their advancements in lithium battery technology have the potential to shape the future of electric vehicles, renewable energy storage, and more, contributing to a cleaner and more sustainable world.

Samsung SDI Breaks Records with Stellar Battery Sales

On January 30, 2024, Samsung SDI announced its achievements for the year 2023. Sales hit an all-time high of 22.71 trillion Korean won, and operating profits were 1.63 trillion won. This marked a significant jump in sales from the previous year, although operating profits experienced a slight decline. The company’s automotive battery sector saw remarkable growth, with sales and profits skyrocketing compared to 2022.

In the fourth quarter of 2023 alone, Samsung SDI’s sales reached 5.56 trillion won with operating profits of 311.8 billion won, showing a reduction from both the same period the previous year and the preceding quarter. The battery division, in particular, faced declines in both sales and profits during this quarter.

Looking forward to 2024, Samsung SDI is optimistic about the power battery market, expecting it to grow to approximately 184.8 billion dollars, an 18% increase from the previous year. The company is gearing up to enhance sales and profitability by focusing on high-end products like the P5 and P6. It is well-prepared to handle new platform orders and efficiently manage its new base in the USA.

Moreover, Samsung SDI predicts the energy storage battery market will also see an 18% increase, aiming for 25.6 billion dollars. Growth is anticipated in significant markets such as North America, Europe, and China, as well as new demands in Korea and South America, driven by energy storage development policies. Samsung SDI is ready to seize new opportunities with innovative products like the Samsung Battery Box (SBB) and is preparing LFP products to meet the evolving market demands.

The company expects the small battery market to grow by 3% in 2024, reaching 43.8 billion dollars. Despite a projected plateau in the demand for electric tools, specialized needs are expected to rise, fueled by product diversification and increased electrification rates due to environmental regulations.

Samsung SDI Product Launch Timeline:

• June 19, 2024: Samsung SDI introduced its latest product, the Samsung Battery Box (SBB) 1.5, at InterBattery Europe 2024 in Munich, Germany. The SBB 1.5 is an upgraded version of the previous SBB model, designed to lead the global Energy Storage System (ESS) market. This 20-foot containerized battery storage solution uses high-nickel NCA batteries, achieving a 37% higher energy density than the previous generation. Each unit can store up to 5.26 MWh of energy, making it a high-capacity solution for utility-scale projects. The SBB 1.5 also features an advanced direct-injection fire suppression system, enhancing safety by directly spraying fire extinguishing agents onto the modules.
• September 2024: Samsung SDI unveiled its LFP+ (Lithium Iron Phosphate Plus) battery, optimized for electric commercial vehicles. This battery offers a 10% higher energy density than conventional LFP batteries, enabling an 80% charge in just 20 minutes.

5. BYD Company Ltd. 

BYD Energy is the world’s biggest iron-phosphate battery factory, with over 24 years of battery manufacturing experience.

BYD is the world’s leading manufacturer of rechargeable batteries. BYD mainly produces two kinds of batteries: NCM lithium-ion batteries and lithium iron phosphate batteries.

• Lithium Battery Technology: BYD is at the forefront of lithium battery innovation. Notably, the company is exploring sodium-ion battery production, which is expected to commence in 2023. Sodium-ion batteries are a promising alternative to traditional lithium-ion batteries, offering potential cost, safety, and energy density advantages. This innovative approach aligns with BYD’s commitment to sustainable energy solutions.
• Production Capacity Expansion: In line with the growing demand for electric vehicles (EVs) and clean energy storage, BYD has announced plans to build a $1.2 billion EV battery plant in central China. This significant investment underlines BYD’s commitment to expanding its production capacity to meet the increasing global demand for EV batteries. It positions BYD as a major player in the electric vehicle market, supporting the transition to sustainable transportation.
• Market Presence: BYD’s dedication to lithium battery technology and production expansion has solidified its position as one of the top EV battery suppliers. Collaborations with other major battery manufacturers and its focus on innovative battery chemistries like sodium-ion batteries showcase BYD’s commitment to shaping the future of clean energy storage and transportation.

BYD Product Launch Timeline:

• November 2024: BYD announced its plans to launch a next-generation Blade Battery in 2025. This upgraded lithium iron phosphate (LFP) battery promises enhanced safety and eliminates the risk of fire, making it a significant innovation in battery technology.

6. SVOLT Energy Technology

SVOLT Energy Technology Co. Ltd. stands out as a prime mover in the lithium-ion battery sector. It is dedicated to the research, production, and sales of power batteries for new energy vehicles and energy storage systems. Initially funded by Great Wall Motor and established in 2018, this esteemed company made waves in the energy realm. With headquarters in Jiangsu, SVOLT announced its IPO on the STAR Market of the Shanghai Stock Exchange on November 18, 2022.

• Collaboration with BMW MINI: Under the insightful leadership of Chairman and President Yang Hongxin, SVOLT embarked on a remarkable journey. As of September 2023, they have initiated bulk supplies to the prestigious BMW MINI. Their product showcase features a high-nickel and silicon anode high-energy density square battery cell. Touted by Yang Hongxin, this battery cell boasts one of the highest energy densities available internationally.
• Achieving International Standards: SVOLT’s commitment to quality and safety is evident as their battery pack successfully passed a gamut of international tests, including the EU’s ECE R100.03, India’s AIS038 Rev2, Korea’s KMVSS Article 18-3 TP48, and China’s GB38031, among others.
• Partnership with Stellantis Group: In a significant update dated October 16, 2023, global automobile titan Stellantis Group proclaimed an augmentation of its battery pack procurement from SVOLT by nearly 5.48GWh. This strategic move amplifies their electrification roadmap. SVOLT and Stellantis Group’s partnership goes way back to 2018, culminating in a mammoth global collaboration project signed in July 2021, valued at approximately $25 billion.
• Industry Recognition: On October 11, 2023, the Battery Alliance unveiled the rankings for “Power Battery Installation Volume from January to September 2023.” SVOLT’s impressive entry, with a power battery installation volume of 4.41 GWh, placed it at the 8th spot.
• European Expansion Plans: Setting sights on European expansion, SVOLT is on track to escalate its factory count to five in the region. With eyes on Eastern, Northern, and Western Europe, the company is actively pursuing ideal locations, with the most extensive factory envisioned to have an annual production capacity of 20GWh. Kai-Uwe Wollenhaupt, SVOLT’s European Head, elucidates the company’s ambition to achieve at least 50GWh battery production in Europe by 2030.
• Investments and Future Endeavors: Mapping out capacity planning, back in November 2020, SVOLT broadcasted its investment in the Saarland region of Germany to erect a European battery module and PACK factory, forecasting a capacity of 24 GWh with a whopping total investment of $3.1 billion. Come September 2022, the energy giant announced the establishment of a battery cell factory in the Lauchhammer area of Brandenburg, Germany, scheduled to commence operations in 2025 with a predicted annual output of 16 GWh.

7. Tesla

Founded in the heart of Palo Alto, Tesla Motors, Inc. represents more than just an automotive company; it symbolizes sustainable innovation and progress. With a staggering market cap of $1.03 trillion, Tesla’s electric vehicle (EV) manufacturing prowess is complemented by its groundbreaking advancements in solar panel technology and energy storage solutions. Established on July 1, 2003, by Martin Eberhard and Marc Tarpenning, Tesla was christened in honor of the legendary physicist Nikola Tesla. Under the visionary leadership of Elon Musk, Tesla’s commitment transcends beyond manufacturing EVs. Their vision? “To accelerate the world’s transition to sustainable energy.”

Tesla’s Strategic Collaborations and Aspirations In line with its global sustainable footprint, Tesla has engaged in pivotal discussions with U.S. White House officials concerning its plans to collaborate with Contemporary Amperex Technology Co., Limited (known as CATL or 宁德时代 in Chinese) to establish a battery plant in the U.S. Furthermore, as part of Tesla’s 2021 Impact Report, a riveting goal has been set: By 2030, Tesla aims to sell 20 million electric vehicles annually. During a recent Investor Day event, Elon Musk unveiled the ambitious “Master Plan 3.” The vision for the future encompasses a massive scale of energy storage and battery output reaching 240TWh, renewable power scaling to 30TW, and an incredible manufacturing investment pegged at $10 trillion.

Tesla’s 4680 Battery: A Glimpse into the Future of EVs

Advantages of the 4680 Battery:

• High Energy Density: The 4680 battery heralds a new era in EV battery technology. With its larger size and innovative design, it offers heightened energy density, enhancing battery capacity and subsequently amplifying EVs’ driving range.
• Enhanced Thermal Performance: The 4680 battery achieves superior thermal dispersion through its unique surface irregular design. This ensures a gradual temperature rise during high-power discharges, amplifying the battery’s lifespan and safety credentials.
• Accelerated Charging Rates: The 4680 battery is capable of rapid charging and dramatically reduces charging times, offering users a quicker “refuel” for their EVs.
• Cost-Efficiency: Thanks to novel manufacturing processes, which encompass fewer components and optimized production lines, the 4680 battery is poised to cut production costs, setting the stage for more affordable electric vehicles.

Challenges of the 4680 Battery:

• Technical Novelty: As a new battery entrant, the 4680 might grapple with initial technical teething issues and potential reliability concerns.
• Production and Supply Chain Dynamics: Scaling the production of the 4680 might necessitate significant modifications to Tesla’s manufacturing infrastructure and supply chain, possibly leading to short-term supply constraints.
• Investment and Costs: While the 4680 promises a decline in production costs, the initial outlay for new manufacturing techniques and machinery might exert financial pressure on Tesla

8. MANLY Battery

MANLY Battery: China’s Leading Battery Supplier with Over a Decade of Excellence. Established in the heart of China, MANLY Battery marks its place as a premier wholesale battery producer, boasting an illustrious history spanning over 13 years. With a reputation built on dedication and excellence, our battery manufacturing prowess is remarkable.

Unrivaled Production Capacity:

Our production line churns out battery cells daily and packs, amassing a staggering 6MWh. Not just that, we take pride in our daily assembly of over 3,000 batteries, reflecting our commitment to quantity without compromising quality.
Nestled within a sprawling 65,000 square meter space, our cutting-edge battery manufacturing unit proudly marks its presence in prime Chinese locations: Shenzhen, Dongguan, and Huizhou.

Versatile Product Offerings:

MANLY Battery brings a vast assortment of LiFePO4/lithium-ion batteries. These range from 6V to 72V, designed meticulously to cater to a plethora of applications:

• Solar energy storage solutions
• Residential and Industrial energy storage
• Advanced robots, from storage to military applications
• Base Station support
• Illuminating solar streetlights
• Reliable Uninterruptible Power Supply (UPS)

• Tailored to Your Needs: At MANLY, we prioritize individual needs. Our bespoke battery services offer unmatched customization opportunities, spanning voltage, capacity, aesthetics, and more, ensuring each product aligns perfectly with client specifications.
• Global Recognitions: With MANLY, trust isn’t just a word—it’s a promise. Our products carry prestigious global certifications like UN38.3, IEC62133, UL, and CE, which serve as a testament to our commitment to excellence.
• Decade-long Warranty Commitment: Quality and durability lie at the core of our offerings, reinforced by a 10-year warranty assurance.
  Safety and Functionality Hand in Hand: Our batteries stand out in performance and safety. With features such as short circuit protection, overcharge safeguards, and overcurrent preventions, we prioritize user safety. Moreover, they’re designed to function flawlessly, even post-severe impacts, and offer flexible connection options.
• Performance Under Pressure: MANLY LiFePO4 batteries are resilient, outperforming SLA or other lithium counterparts. Functioning optimally between -20°C to 75°C (-4°F to 167°F), they’re built for the harshest environments. However, we recommend adhering to advised temperature guidelines for charging to maintain peak performance.
• Setting Efficiency Benchmarks: Why settle for less? With our LiFePO4 lithium battery, enjoy an astounding energy efficiency rate of 95%. Outshining traditional lead-acid batteries that hover around 70%, our products promise faster charging and lower energy consumption.
• Innovative User Experience: To augment user experience, we also infuse our batteries with modern features such as Bluetooth connectivity and an intuitive battery-level display. Dive into the future of efficient energy with MANLY Batteries – where legacy meets innovation

Famous Products of MANLY Battery

• 12v 200Ah LiFePO4 Battery
• 12v 150Ah Lithium Battery
• 12v 100Ah LiFePO4 Battery
• 12 volt 20Ah Lithium Battery
• 24v 100Ah Lithium Battery
  

12V 200Ah Lithium Battery

Boost your energy solutions with the MANLY 200Ah lithium battery, utilizing cutting-edge LiFePo4 technology. It stands out as a premier choice for solar and off-grid applications, boasting a lifespan exceeding 20 years and an impressive 12V capacity.

Its sleek structure, complemented by a minimal 2.5% self-discharge rate, guarantees effortless setup and low maintenance. With integrated safety mechanisms against overvoltage and overcurrent, this battery remains resilient, even enduring impacts without risking combustion or explosion.

Elevate your user experience with its built-in Bluetooth and Battery Level Display, streamlining battery health monitoring and device management. Choose the MANLY lithium batteries 200Ah: the epitome of performance and convenience.

12V 150Ah Lithium Battery

9. Toshiba Corporation 

Toshiba has made a massive investment in its R&D department for lithium technology. The firm is currently manufacturing and selling lithium-ion batteries and related storage solutions for the automotive and telecommunication sectors. The firm has produced general logic ICs and flash storage as part of its diversification process.

Why Does Toshiba Produce Lithium Batteries?

1. Eco-friendly Solution: With the world shifting towards sustainable energy solutions, Toshiba recognized lithium batteries as a means to reduce carbon footprints. These batteries offer a higher energy density, ensuring more power in a smaller, lighter package.
2. Growing Market Demand: Over the past decade, there has been a surge in the demand for efficient energy storage solutions in industries like automobiles, renewable energy storage, and consumer electronic products.
3. Technical Expertise: Toshiba’s rich history in electronics and technology provided a perfect foundation for innovating and developing state-of-the-art lithium battery technology.

Toshiba’s Lithium Battery Production Scale

Based on the provided data, some of Toshiba’s lithium-ion battery systems have capacities ranging from 15.4 to 462.2 kWh. In comparison, other models boast capacities of 22 to 176 kWh, 66.9 to 356.8 kWh, and 14.9 kWh, respectively.

Major Products by Toshiba

Toshiba offers a variety of lithium battery products, among which stand out the SCiB™ batteries. They are renowned for their rapid charging capabilities, long lifespan, and high safety standards. Toshiba also provides batteries for consumer electronic products, electric vehicles, and large grid storage.

10. EVE Energy Co., Ltd.

EVE Energy Co., Ltd., an emblem of excellence in the lithium battery industry, adopts a diversified business model focusing on consumer, power, and energy storage batteries. Since its stock market entry in 2009, its revenue has grown whopping from $0.3 billion to nearly $11.83 billion by 2020.

Financial Highlights:

• In 2021, the firm reported a turnover of approximately $24.49 billion, with its power battery business churning above $14.49 billion.
• By 2022, the revenue leaped to about $52.6 billion, representing a year-on-year growth of 114.82%.
• EVE Energy has set the bar to cross revenues of around $144.93 billion by 2024.

Products and Technical Achievements:
EVE Energy’s expansive portfolio, featuring large cylindrical, iron-lithium, and soft-pack batteries, receives plaudits across the market spectrum. In the realm of power batteries, during January-February 2023, the company clinched spots among the top five in China’s New Energy Passenger Vehicle market and breached the top ten globally. Moreover, for commercial vehicle sectors, it secured a top-three national rank in new energy trucks, buses, and unique vehicle battery installations.

Energy Storage Domain:
Globally, energy storage battery shipments reached about 20.68GWh in 2022, marking an impressive 204.3% YoY growth. EVE Energy’s contribution stood at around 1.59GWh, registering a remarkable 450% growth from the previous year. This feat placed EVE Energy in the top three global energy storage battery suppliers.

Recent Developments:

• As of August 24, 2023, EVE Energy rolled out its semi-annual report for 2023. It boasted a consistent growth trajectory, with revenues touching $33.3 billion (a YoY spike of 53.93%). Net profit attributable to its mainstay company rocketed to approximately $3.12 billion, a YoY increment of 58.27%. The net operating cash flow is around $4.78 billion, reflecting an 82.39% YoY ascent.
• On July 27, 2023, a monumental agreement was inked between EVE Energy and Energy Absolute Public Company Limited (“EA”). This collaboration envisions spawning a joint venture in Thailand, aiming to birth a battery production base with a minimum capacity of 6GWh. The proposed JV would be structured with EA securing a 51% stake and EVE Energy remaining 49%. Profit dividends are projected to be evenly split at 50:50.

Notable Orders and Collaborations:

• June 2023 witnessed the company securing twin landmark energy storage battery orders. On June 14, a pact was forged with Powin to supply 10GWh of square iron phosphate lithium batteries. The subsequent day heralded another major deal with American Battery Solutions (ABS) for the supply of 13.389 GWh of identical batteries. Notably, Powin is a global behemoth in energy storage solutions, with projects spanning over 870MWh fully operational or under construction and another gargantuan 1594MWh slate for imminent execution. This marked the duo’s second rendezvous after their August 2021 agreement for a two-year supply of 0.145GWh iron phosphate lithium batteries.
• Product-wise, the previous year witnessed the unveiling of EVE Energy’s avant-garde square iron phosphate lithium LF560K energy storage battery. This gem boasts a 560Ah ultra-large capacity, 1.792kWh energy quotient, and a lifespan exceeding 12,000 cycles. Its associated energy storage station is competitively priced, making it a viable alternative to pumped storage power stations and serving the expansive energy storage market.

11. SK On Jiangsu Co.,Ltd

Situated in the burgeoning economic hub of Yancheng City, Jiangsu Province, SK On Jiangsu Co., Ltd. is a testament to global collaboration and technological advancement. Established in June 2019, this joint venture is the brilliant synergy of two giants: SK Group, the third-largest conglomerate in South Korea and a member of the prestigious Fortune Global 500, and Huizhou Eve Energy Co., Ltd., a global powerhouse in lithium battery technology. Commanding a registered capital of $1.217 billion, the company has invested $2.01 billion to craft two state-of-the-art new energy vehicle power battery production bases. Spanning 605 acres, with a combined production capacity of 27GWh, SK On Jiangsu Co., Ltd. has cultivated a vibrant community of over 1,700 employees.

Global Expansions and Collaborations

• European Footprint: Extending its global outreach, SK On is establishing its third battery factory in Iváncsa, situated in the Kőzép-Dunántúl region of Hungary. The European Union Commission’s confirmation of the €209 million state aid affirms the plant’s ambitious vision. This factory is projected to increase its annual production capacity to 30GWh.
• A Strategic Partnership with Ford: In a groundbreaking collaboration, SK On and Ford birthed the joint venture battery company BlueOval SK on July 13, 2022. Recognizing the skyrocketing demand, Ford estimates its North American battery requirements to surge to 140GWh by 2030, with a global demand of 240GWh. SK On’s factories and Blue Oval SK will cater to most of this demand. Nestled in Georgia, USA, SK On has embarked on a $2.6 billion investment to set up two factories for BlueOval SK. With production capacities of 9.8 GWh and 11.7 GWh, respectively, these factories promise a combined output of 21.5 GWh, slated to be operational between 2022 and 2023.
• Rising Global Capacities: Combining the capacities of BlueOval SK’s three factories and SK On’s two in Georgia, the company’s annual production in the USA alone surpasses 150 GWh. From a global battery capacity of 40GWh per annum, SK On is poised to catapult to 77GWh by 2022, 220GWh by 2025, and a staggering 500GWh by 2030.

A Glimpse into the Future SK On Jiangsu Co., Ltd.’s trajectory is not merely about numbers but a profound vision. The company is driven by an unyielding mission: to ascend as the global leader in power battery production. With relentless innovation, strategic collaborations, and a commitment to sustainability, SK On is not just shaping the future of energy but becoming the future of energy.

12. CALB Group., Ltd

CALB Group, Ltd. is a top company that makes cool things like lithium batteries, battery management systems, and more! They aim to be the best at making batteries and energy solutions for all uses, especially for great car companies worldwide.

Achievements: In June 2023, CALB Group had a record month! They made substantial power batteries, reaching 2.9GWh in just one month. That’s like filling up a lot of electric cars! Also, their new energy car batteries reached a high of 2.8GWh. This company is undoubtedly growing fast!

How are they doing financially?

Up to June 30, 2023, CALB Group shared some exciting numbers:

• Their total worth grew by 10.9% from last year, reaching around $150.42 billion.
• Their net worth went up 8.0% to about $67.36 billion.
• Their sales for the six months were about $18.44 billion, which is a 34.1% increase from last year.
• Their net profit was around $399 million, increasing by 60.8% from last year.

What products do they have?

Three-element Power Products:

• 400V 2C Middle Nickel High Voltage Battery: This battery charges super-fast! It can charge from 20% to 80% in just 18 minutes.
• 800V 3C/4C Middle Nickel High Voltage Battery: This battery charges from 20% to 80% in only 10 minutes, even faster!
• 800V 6C High Nickel Battery: This is a unique round battery by CALB. It charges super fast and helps cars run longer.
• High-Energy Nickel Battery: This battery is powerful and safe. It can be used many times without getting weak.
• Ultra High Energy Semi-Solid State Battery: This battery is mighty. It has a perfect balance of energy, power, and safety.

Phosphate Series Power Products:

• High-Power Iron Lithium Battery: This battery is for hybrid cars. It helps cars run from 80km to 300km.
• High-Energy Iron Lithium Battery: This battery is thin, light, and efficient. It’s leading the way in new battery shapes and sizes!
• 800V 3C Fast Charge Iron Lithium Battery: This battery charges super-fast and is an excellent solution for electric cars.
• One-Stop Iron Lithium Battery: This powerful battery pack helps cars run up to 600km.
• One-Stop High Manganese Iron Lithium Battery: This battery is special because it doesn’t use certain metals. It supports more than 700km of travel!

13. Gotion High-Tech Co., Ltd

Gotion High-Tech Co., Ltd., commonly known as Gotion, is a prominent player in the new energy vehicle battery sector. With a profound experience in technology and product development, Gotion lives by the principle of “product is king.” They take pride in offering a holistic production system, covering everything from cathode materials, battery production, PACK assembly, and BMS systems to energy storage battery groups and high-efficiency energy products.

One of their notable achievements is in the area of iron phosphate (LFP) battery technology. They have successfully upgraded their products to offer a single-cell energy density, increasing from 180Wh/kg to 190Wh/kg. Besides, Gotion has taken up a significant tech project by China’s Ministry of Science and Technology to achieve a high energy density of 300Wh/kg and has developed a ternary 811 soft-packed battery.

Expanding Horizons: Gotion in the USA

Gotion has announced plans to establish a lithium battery project in Manteno, Illinois. Entrusting this massive project to its wholly-owned subsidiary, Gotion, Inc., the company will invest a whopping $20 billion (equivalent to around 147 billion yuan) in this endeavor. Once operational, the factory, focused on lithium-ion battery and battery pack production and energy system integration, is projected to produce 10GWh of lithium-ion battery packs and 40GWh of lithium-ion battery cells. Production is expected to kick off in 2024.

In October 2022, Gotion received approval to set up a battery materials production factory near Big Rapids, Michigan, with a projected total investment of $23.64 billion. By 2030, this facility will produce 150,000 tons of battery cathode materials annually and 50,000 tons of anode materials.

Fast-forward to June 2023. The U.S. Federal Government granted permission for Gotion to continue its construction in Michigan, complemented by an incentive program worth $715 million provided by the state of Michigan.

These developments signify Gotion’s commitment to establishing an integrated supply layout in the U.S., from raw materials to batteries. With a combined investment of around $43.64 billion, Gotion stands out as the top Chinese power battery enterprise investing in the U.S. Furthermore, Gotion has six overseas battery project bases.

Gotion’s Global Footprint

In Europe, Gotion has three sites:

• Göttingen production base has a planned capacity of 20GWh, and as of September, it already has its first battery production line in operation. Deliveries to European clients are expected to start in October.
• Salzgitter factory, a collaboration with Volkswagen.
• A recent partnership with Slovak battery manufacturer InoBat aimed to jointly establish a factory for cells and packs with a capacity of 40GWh.

In Southeast Asia, Gotion has two bases:

• A joint venture with Vietnam’s VinGroup to construct Vietnam’s first LFP battery factory (Phase one: 5GWh).
• A pact with Singapore’s Gotion and NuovoPlus to set up a lithium-ion battery PACK base in Thailand. This facility’s first production line is anticipated to be operational by the end of the year, supplying to the market.

According to Gotion’s projections, by the end of 2025, the company will have a total capacity of 300GWh, with overseas capacities estimated around 100GWh. In addition to the outlined projects, Gotion also plans to team up with Tata Motors to enter the Indian lithium battery market.

In June, rumors surfaced about discussions between the Moroccan government and Gotion regarding establishing an EV battery factory in Morocco. The potential production capacity might reach 100GWh, with an investment of up to $63 billion.

14. Sunwoda Electronic Co., Ltd.

Established in 1997 in Shenzhen, Gotion High-Tech Co., Ltd. has come a long way in over two decades. Initially founded as a local enterprise, the company has blossomed and grown. Today, it stands tall as a global frontrunner in lithium-ion batteries. But that’s not all. Over the years, Gotion has diversified and expanded its horizons. The company proudly boasts six major industrial groups: 3C consumer batteries, intelligent hardware products, power batteries and powertrains, energy storage systems, comprehensive energy, automation and intelligent manufacturing, and laboratory testing services. With such a vast portfolio, it’s clear that Gotion is not just about batteries. They are deeply committed to providing clients with green, swift, and efficient integrated new energy solutions worldwide.

Central to Gotion’s business is its expertise in researching and developing lithium-ion battery modules. This focus is evident in its primary product, the lithium-ion battery module. Designed with precision and engineered for excellence, these modules are a testament to Gotion’s commitment to quality and innovation.

Gotion’s Milestones and Achievements

The year 2022 was particularly significant for Gotion. First and foremost, they secured prestigious orders from global automotive giants like Volkswagen and Volvo. This clearly indicated the trust and confidence leading brands placed in Gotion’s capabilities. Moreover, on February 8th of that year, Gotion began supplying ternary lithium batteries for the new model L8 Air by Ideal Automobile. Such collaborations show the company’s growth trajectory and increasing product demand.

In 2022, Gotion was not content with its current standing. It aggressively unveiled several power battery deployment plans, targeting a total production capacity of 130GWh. By the year’s close, its cumulative planned expansion for electric vehicle battery production reached an impressive 240GWh. To support these ambitious plans, the company proposed an investment surpassing 1,000 billion yuan (translated to US dollars based on the prevailing exchange rate).

Let’s delve into some global context to understand the scale of Gotion’s operations. In 2022, the global installed capacity for power batteries was approximately 517.9GWh, marking a staggering 71.8% increase year-on-year. Amidst this surge, Gotion’s installed capacity shot up to 9.2GWh, reflecting a whopping 253.2% growth compared to the previous year. Such exponential growth is a testament to the company’s dedication, resilience, and ability to adapt to a rapidly evolving market.

Fast forward to March 2023, and Gotion’s achievements continued to pour in. Their power battery installation volume ranked 6th in China, surpassing LG New Energy. This milestone showcases Gotion’s competitive edge and emerging dominance in the Chinese market.

15. Farasis Energy (GanZhou) Co.,Ltd

Established in 2009, Gotion High-Tech Co., Ltd., also known as Zuneng Tech (Ganzhou) Co., Ltd., is one of the global leaders in ternary soft-packed power batteries. From its inception, the company has dedicated its resources and energy to the research, production, and sales of new energy vehicle power battery systems and energy storage systems. Moreover, Gotion’s primary mission revolves around providing innovative and environmentally friendly energy solutions to the global new energy applications sector.

• Capacity and Production: Currently, Gotion High-Tech boasts a remarkable battery production capacity of 21GWh. Diving deeper into the numbers, we see that this capacity comprises 16GWh of the first and second phases of the Zhenjiang base combined. In addition, their Ganzhou factory has an impressive 5GWh production capability. Such robust production figures highlight the company’s robust infrastructure and commitment to catering to the global energy demand.
• Innovative Product Range: Gotion is not just about capacity; innovation is at its core. The company has already mass-produced batteries with an energy density of 285Wh/kg. But they aren’t stopping there. They are on the cusp of industrializing batteries with a high energy density of 330Wh/kg. And if you think that’s impressive, consider this: they have reserved battery technology of 350Wh/kg and are currently researching and developing batteries with a whopping 400Wh/kg.
• Safety and Rapid Charging: Leading the Charge: Regarding battery safety and fast charging, Gotion is in a league of its own. It is the first company in China to introduce a mass-produced 800V supercharging and overvoltage platform battery technology. A testament to their technological prowess is that the batteries they produce have achieved a 2.2C charging cycle life and can endure 3000 cycles while maintaining a capacity retention rate of ≥85%. To top it off, their batteries have a warranty extending beyond 500,000 kilometers.

Collaborations and Milestones

Back in November 2018, Gotion achieved a significant milestone. They secured a power battery supply contract with Daimler for 2021-2027. This agreement is monumental, with a total power battery scale reaching 170GWh.

To understand Gotion’s global influence, consider the 2022 statistics: out of the global power battery installation volume, Gotion contributed 7.4 GWh, reflecting a mammoth 215.1% year-on-year growth.

16. EnerSys Inc.

Company Background

Established in 2000 and headquartered in Reading, Pennsylvania, EnerSys has become a leading lithium ion battery manufacturer and provider of energy storage solutions globally. Their operations are segmented into three main categories: energy systems, power batteries, and specialty batteries, catering to various industries, including telecommunications, utilities, defense, and aerospace.

Products and Solutions

EnerSys operates through three primary business segments:

• Energy Systems: This segment contributes 46.9% of net sales, providing energy storage and power solutions for data centers, telecommunications, and industrial applications. Products include uninterruptible power systems (UPS), power cabinets, and energy pipelines, essential for maintaining a continuous power supply in critical environments.
• Power Batteries: Representing 39.1% of net sales, this segment focuses on enersys batteries for industrial forklifts, automated guided vehicles, and other material handling equipment. These batteries are crucial for efficient operation in manufacturing plants and warehouses.
• Specialty Batteries: This segment accounts for 14% of net sales and includes advanced battery solutions for high-end automotive, aerospace, and defense applications. Products are used in satellites, military vehicles, and medical devices, ensuring reliable power in specialized and demanding environments.
• Hawker Batteries and Odyssey Battery
• EnerSys markets well-known brands like Hawker and Odyssey batteries among its diverse product offerings. Hawker batteries are recognized for their robustness and efficiency, particularly in industrial and commercial applications. On the other hand, the Odyssey battery is famous for its high performance in automotive and marine uses, providing long service life and reliable power.

Global Presence and Competitors

EnerSys maintains a strong global presence with facilities in the United States, Canada, Mexico, Brazil, China, and several European nations. This extensive network supports its ability to serve many customers worldwide. However, EnerSys faces competition from other major energy storage and battery technology companies. In the specialty batteries market, competitors include Exide Technologies, East Penn Manufacturing, and Clarios.

• Future Outlook: EnerSys continues to invest in research and development, focusing on innovative energy storage solutions. Recent acquisitions like Alpha Technologies and NorthStar have expanded its capabilities and market reach. By integrating advanced technologies and expanding its product portfolio, EnerSys aims to enhance its leadership in the energy storage industry and meet the evolving needs of its global customers.
• Revenue Growth: EnerSys Inc. has shown consistent growth in its financial performance. According to the latest financial reports, EnerSys revenue has reached $3.58 billion on a trailing twelve-month (TTM) basis. In 2023, the company reported a revenue of $3.66 billion, which marked an increase from the $3.62 billion revenue in 2022. This upward trend indicates a strong market presence and effective business strategies.

17. EXIDE TECHNOLOGIES

Company Background

Exide Technologies, with a rich history dating back to 1888, has firmly established itself as one of the world’s largest lead-acid battery manufacturers. The company, born from the former GNB Battery and Exide entities in September 2000, is a pioneer in battery solutions across diverse industries. With a century-long legacy, Exide Technologies consistently delivers innovative and reliable power storage solutions, earning global trust through its unwavering commitment to quality and performance.

Products and Solutions

Exide Technologies offers an extensive portfolio of products targeting four primary application areas: transportation power, motive power, network power, and military applications. The company develops cutting-edge power storage solutions to meet the exacting demands of automotive OEMs, aftermarket service providers, industrial energy users, and military sectors. Under well-recognized brands such as GNB and Sonnenschein®, Exide tailors each solution to deliver efficiency, durability, and performance.

Global Presence and Competitors

Exide Technologies operates in more than 100 countries and has 43 production facilities across 14 nations. The company has built a significant presence in the Asia-Pacific region, establishing its headquarters in Shanghai and subsidiaries in countries like Australia, New Zealand, India, Japan, Singapore, and Malaysia. Amidst fierce global competition from other leading battery companies, Exide leverages its longstanding reputation, broad manufacturing network, and commitment to innovation to maintain a dominant market position.

• Revenue Growth: Recent figures indicate that Exide Technologies has experienced steady revenue growth. In FY 2023, the company generated approximately €194.8M in revenue, up from €187.5M in FY 2022 and €175.8M in FY 2021, translating to a compound annual growth rate of roughly 5.2% over the past two years. This upward trend reflects Exide’s successful strategic pivot—balancing its legacy as a traditional lead‑acid BATTERY MANUFACTURER with an expanding portfolio of advanced lithium‑ion and energy storage solutions. 
• Future Outlook: Looking ahead, Exide Technologies is not just adapting to the evolving energy storage market but also leading the charge. In July 2024, the company unveiled its innovative Solution Mega Three containerized energy storage system, a testament to its commitment to sustainability and cutting‑edge technology. Coupled with ambitious ESG targets—such as reducing emissions by 30% by 2030 and sourcing at least 20% of its energy from renewables—the firm is investing heavily in R&D and expanding its global manufacturing footprint. These initiatives are not just expected to drive further revenue growth, but also to reinforce Exide’s leadership as a worldwide provider of advanced, sustainable energy storage solutions.

18. A123 System LLC

Company Background

Founded in 2001 and rooted in breakthrough MIT nanomaterials research, A123 Systems LLC has rapidly become a global leader in advanced energy storage. Headquartered in Livonia, Michigan, and operating as a subsidiary of Wanxiang America, the company employs over 2,000 professionals worldwide. A123 Systems holds TS-16949 and ISO9001 certifications, reinforcing its reputation as an innovative lithium ion battery developer and a reliable battery manufacturer committed to taking engineering breakthroughs from concept to market.

Products and Solutions

A123 Systems distinguishes itself through its proprietary Nanophos® technology, transforming iron phosphate cathode material into uniformly distributed nano-scale particles. This breakthrough increases discharge power dramatically while maintaining exceptional cycle life and safety. The company actively designs a diverse range of products—low-voltage, starter batteries, and 48V systems to specialized solutions for fully electric vehicles. In addition, its energy storage systems, including home, commercial, and container-scale applications, integrate advanced features like high current discharge capabilities and robust safety mechanisms, meeting the evolving demands of modern energy storage markets.

Global Presence and Competitors

A123 Systems maintains a strong global footprint, serving markets across North America and beyond with cutting-edge energy storage solutions. The company competes internationally by leveraging its revolutionary nanotechnology and vertically integrated manufacturing processes. Its proven product performance and stringent safety standards enable A123 Systems to stand out among other energy storage providers and lithium ion battery competitors. A123 Systems continues to fortify its position as a leading battery manufacturer in a dynamic, competitive landscape by offering complete solutions tailored to emerging market requirements.