What Are The Top Electric Vehicle Battery Companies Around The World In 2022?

There are several well-known Electric Vehicle (EV) battery companies around the world that have been providing EVs with batteries and the power to run them since the mid-2000s. Although there are many companies that produce EV batteries, these top six have proven themselves time and time again to be one of the best in their field, year after year. So what are the top electric vehicle battery companies around the world in 2022? Read on to find out!

Global EV Market Outlook & Forecasts

According to a new study by MarketsandMarkets, the global electric vehicle market is expected to reach $2.5 trillion by 2025. This growth is being driven by an increase in electric car sales, as well as the development of infrastructure such as electric vehicle charging stations and electric vehicle chargers. Some of the top electric vehicle companies around the world include Tesla, BMW, and Volkswagen. In 2018, Tesla announced plans for its Gigafactory 3 in Shanghai, China with production slated to start in 2020. It’s also opening its first European Gigafactory in France and has plans for more factories elsewhere.

BMW opened its electric vehicle battery factory near Dresden this year and has announced plans for electric vehicles made exclusively from recycled materials including electric vehicle batteries.

Volkswagen recently announced that it will invest heavily in electrification over the next ten years as part of their Drive 2030 Strategy with investments totaling €34 billion by 2023 including €1 billion on e-mobility platforms alone; much of which will be spent on developing electric car battery technology.

Tesla Motors, Inc.

In addition to its automotive business, Tesla sells solar panels and solar roofs through its subsidiary SolarCity, provides residential and commercial batteries through its subsidiary Tesla Energy, and operates the Tesla Gigafactory—the world’s largest lithium-ion battery manufacturing facility—in Nevada. In 2016, Tesla acquired German engineering firm Grohmann Engineering in order to establish a presence in Germany and central Europe. Tesla also entered into an agreement with Panasonic to collaborate on producing photovoltaic cells and modules at the Gigafactory. In 2017, Musk unveiled the company’s first major product line, Powerwall 2.0 – a home battery pack for storing electricity from sustainable sources for use in homes and businesses during power outages or other periods of grid power disruption.

The gigafactory approach is different from traditional OEM (original equipment manufacturer) models; it emphasizes scalability over economies of scale, as each gigafactory can produce enough electric vehicles and battery packs to supply more than 500,000 cars per year (depending on production ramp rate).

This allows Tesla to move upmarket with planned future products like the Model 3 while ensuring that lower priced variants such as the Model S remain priced competitively.

SK Innovation Co., Ltd.

SK Innovation is a South Korean company that manufactures and sells electric vehicle (EV) batteries. The company was founded in 1986 and has its headquarters in Seoul. As of March 2021, SK Innovation had a market capitalization of US$16.3 billion. In 2020, the company had revenue of US$7.4 billion and employed 9,800 people. SK Innovation is one of the world’s leading EV battery manufacturers and is expected to continue to grow in the coming years.

It produces electric car batteries for models such as Chevrolet Bolt and GM Cruise AV. These cars use the best-in-class lithium ion cells from LG Chem and Samsung SDI in their vehicles. Other car companies that are major clients of SK Innovation include Honda, Renault-Nissan, BMW, Volvo Cars, Jaguar Land Rover, Hyundai Motor Company, Ford Motor Company and Volkswagen Group.

LG Chem Ltd.

Based in South Korea, LG Chem is one of the world’s largest suppliers of lithium-ion batteries. The company has a strong presence in the electric vehicle battery market, with customers that include Audi, General Motors, and Renault-Nissan. LG Chem is also working on developing solid-state batteries, which are seen as the next generation of EV batteries. Solid-state batteries are currently much safer than lithium ion ones because they don’t require an inflammable liquid electrolyte to function. They’re also more energy dense, meaning they can be produced in smaller sizes. LG Chem hopes to commercialize their technology.

BYD Co., Ltd.

Based in China, BYD Co., Ltd. is one of the world’s leading electric vehicle battery companies. As of early 2020, the company had a market share of over 30% in China, the world’s largest EV market. BYD is also a major player in other industries such as solar power and mobile phone batteries. In addition to its strong presence in China, BYD has operations in over 50 countries around the world. The company has plans to continue expanding its global reach in the coming years.

Recently, it announced an agreement with El Salvador to manufacture electric buses for the country. We are honored that our experience with large-scale public transportation systems will be utilized by El Salvador, said Wang Chuanfu, chairman and president of BYD Co., Ltd.

Bosch LLC. (Robert Bosch GmbH)

A German multinational engineering and electronics company, Bosch is one of the world’s leading suppliers of technology for the automotive industry. In terms of electric vehicle batteries, Bosch offers a high-voltage battery system that features lithium-ion technology. This system is designed for use in hybrid and electric vehicles.

To create its high-voltage battery system, Bosch uses a lithium-ion cell (from South Korea’s LG Chem Ltd.) and battery management system (from Silicon Valley startup Seeo Inc.). The result is a battery that can store as much as 100 kilowatt hours of electricity and supply 400 volts. That’s more than triple what most batteries offer today, which allows for faster acceleration, better performance on hills and extended driving range. Best of all, lithium-ion cells are typically cheaper than other electric vehicle batteries, making them ideal for mass production.

Panasonic Corporation

Based in Osaka, Japan, Panasonic Corporation is a global leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. The company’s automotive and industrial systems business provides batteries for hybrid and electric vehicles. As of March 31, 2018, Panasonic had approximately 61,000 employees worldwide and reported consolidated net sales of 7.84 trillion yen for the fiscal year ended March 31, 2018. The company ranked No. 27 on the 2018 Fortune Global 500 list of largest companies by revenue.