Top 10 power battery companies in the world in 2021
With the advancement of technology and the proposal of carbon neutrality goals, the global new energy vehicle market has entered a stage of vigorous development. Major automobile companies have opened up new energy vehicle business, and have launched different models and types of new energy vehicles. Therefore, the power battery, the core of new energy vehicles, has become a hot battery product.
According to the data, the global sales volume of new energy vehicles in the first half of 2021 was about 2.252 million, up 151% year on year; The installed capacity of power battery was about 100.49GWh, up 141% year on year. This article will provide a detailed introduction of the top 10 power battery companies in the world in 2021 based on the installed capacity rankings in the first half of 2021.
At present, the market boom of new energy vehicles has exceeded expectations and continues to rise. It is widely expected that the global sales of new energy vehicles in 2021 will exceed 5 million units, driving the installed power battery to exceed 250GWh.
Changes in the power battery market
In the first half of the year, the global new energy vehicle market is constantly changing, which has a certain impact on the development and installation of top 10 power battery companies in the world, and the evolution of the market pattern is also showing new variables, mainly reflected in the following aspects:
First, the market value gap widened. The market value reflects the recognition and expectation of the capital market on the value of the these top power battery companies. The peak value of CATL in the first half of the year has reached 24 times that of LG. The market value of GOTION High-tech and EVE also exceeds LG.
To be sure, in both the TWh era and the zero-carbon era, the certainty of the growth scale of the power battery market is increasing. With the signing of the orders and the changing of the market share, the value and growth of Chinese power battery companies are more recognized by the market.
Second, the global TOP 10 power battery companies camp tends to stabilize in the short term, but the competition intensifies. In the first half of this year, there was no change among the TOP 10 power battery companies compared to the whole of last year, with only GOTION high-tech and Envision AESC changing ranks. It is worth noting that the gap in market share between top 5-10 power battery companies is gradually widening, and with the increasing installed volume of global power battery, market differentiation may further intensify.
At the same time, the second-tier Chinese power battery companies are expanding their market influence step by step by virtue of product competitiveness, customer resources, production capacity advantage, cost advantage and other comprehensive factors, and their market share is constantly improving. In addition, rapid capacity expansion, seeking listing, obtaining orders from international auto companies, and global strategic layout have formed a strong attack on TOP4 and 5 power battery companies.
Third, the international growth value of Chinese power battery enterprises continues to jump. For example, SVOLT obtained cooperation with Stellantis Group on a project worth 16 billion yuan; Envision AESC has reached a comprehensive strategic cooperation with Renault Group in France, Renault will provide Envision AESC with a five-year 40GWh to 120GWh power battery order; GOTION Acquired Bosch’s plant in Gottingen, Germany, to establish its first new energy production and operation base in Europe.
On the one hand, the products can pass stringent verification and meet the requirements of international car enterprises; on the other hand, the overseas production capacity can be accelerated and expanded. China’s second-tier power battery companies show increasingly strong international competitiveness and product strength.
Fourth, core challenges have been upgraded across the board. At present, the maximum capacity of a single power battery companies is less than 5GWh/ month, and most of them are even less than 1GWh/ month. As market demand continues to rise, capacity needs to be pulled up to 10GWh or even 20GWh per month. Under such circumstances, how to ensure the consistency and safety of battery for power battery companies has become a key problem for the rapid expansion of power battery capacity.
At the same time, there are serious challenges in the supply chain, where power battery companies are increasingly grabbing raw materials. In addition, at the capital level, power battery enterprises may seek to split the listing or start their own listing process, in order to obtain a greater level of backing support and a more independent development system. Among them, LG Chem has successfully spun off LG New Energy and entered the listing process. BYD also plans to launch Its Fordi battery in the next year or two; CALB has also entered the IPO preparatory period; SKI also revealed that it is considering spinning off its battery business and going public independently.
The upgrading of technology, capacity, market, supply chain and capital will also become a new variable in the evolution of the global power battery market pattern.
Top 10 power battery companies in the world
CATL is a global leader of new energy innovative technologies, committed to providing premier solutions and services for new energy applications worldwide.
CATL has established cooperative relations with a number of mainstream car companies and successfully occupied a place in the global market. It has also become the first lithium-ion battery manufacturer in China to enter the supply chain of international top car companies
In the first half of 2021, CATL achieved power battery installation capacity of 25.73GWh, with a market share of about 26%, and retained the throne of global power battery installation capacity.
The growth of CATL’s installed capacity is mainly due to the cooperation with tesla, NIO, Xiaopeng, Yutong, Ideal, SAIC, Great Wall, BAIC, Geely and other car companies. At the same time, it also cooperate with Beijing Benz, BMW Brilliance, FAW-Volkswagen, SAIC Volkswagen, Dongfeng Honda, Guangqi Honda, Beijing Hyundai and other joint venture brands.
On June 28, CATL announced that it signed a Production Pricing Agreement with Tesla. Under the agreement, CATL will supply Tesla with lithium-ion battery products from January 2022 to December 2025.
The renewal of the 4-year strategic agreement will be conducive to the rapid increase of CATL’s global market share, and the company may further open up tesla’s global market and become tesla’s global main supplier.
2.LG new energy
LG New Energy belongs to LG Group of South Korea. As a global leader in battery technology, LG new energy business covers power batteries, small batteries and energy storage systems. LG New Energy has more than 20,000 employees worldwide, 23,610 patents for electric vehicle batteries, and global production and operation systems in China, South Korea, the United States, Europe and Indonesia. Currently, LG New Energy supplies power battery products to leading global automotive brands such as Volkswagen, GM, Daimler, Ford, Hyundai, Kia, Audi, Porsche, Renault and Tesla.
In the first half of 2021, LG New Energy achieved the global power battery installation capacity of 24.17GWh, with a market share of 24%, stabilizing the second place in the global power battery installation capacity.
As a power battery supplier for hyundai, Tesla, Volkswagen, GENERAL Motors, Audi, Porsche and Jaguar, LG New Energy achieved a significant increase in installed capacity in the first half of 2021, driven by a surge in electric vehicle sales in Europe and the United States.
LG New Energy is also stepping up efforts to secure raw material supplies in addition to its independent listing. In June, LG New Energy signed a 10-year nickel and cobalt purchase agreement with Queensland Pacific Metals Company (QPM) in Australia. In July, the company signed a purchase order for 55,000 tons of electrolyte with Tianci Materials, covering the period from the second half of 2021 to the end of 2023.
Panasonic is a Japanese multinational company with more than 290,493 employees in more than 230 companies worldwide. The development of brand products involves household appliances, digital audio-visual electronics, office products, aviation and many other fields. It is one of the world’s top 500 companies. In the first half of 2021, Panasonic achieved global power battery installation capacity of 17.78GWh and market share of 17.7%.
Panasonic, whose main customer remains Tesla, has seen its global installed capacity decline as LG New Energy and CATL grab its share of supply.
Panasonic, meanwhile, is deepening its cooperation with Toyota to increase square battery capacity, further reduce manufacturing costs and develop solid-state and next-generation batteries.
BYD was founded in 1995 and operates in four industries: automobile, rail transit, new energy and electronics. In 2003,BYD became the second largest rechargeable battery manufacturer in the world. In the same year,BYD Automobile was established. Following the development route of independent research and development, independent production and independent brand,BYD Automobile is determined to create a truly high-quality and inexpensive car.
Byd achieved power battery installation capacity of 6.63GWh in the first half of 2021, and maintained market share of 6.6%.
For now, BYD’s batteries are still mostly used in its own cars, but in terms of product strategy, BYD’s all-electric cars have been replaced with blade batteries.
In July, Changchun government of China, China FAW Group, BYD jointly signed a new energy power battery project investment cooperation agreement, FAW Red Flag’s pure electric medium-sized car E-QM5 will take the lead in equipped with BYD blade battery.
Samsung SDI was established in the 1970s as an electronics subsidiary of Samsung Group, with vacuum tube, display tube business for the beginning. In 2000, Samsung SDI successfully transformed itself into a clean-energy solution-focused company by entering the lithium-ion secondary battery business. Samsung SDI is rapidly expanding its lithium-ion secondary battery business from digital products such as mobile phones and laptops to electric vehicles such as xEV and Energy Storage System (ESS).
Samsung SDI installed 6.22GWh of power batteries in the first half of 2021, increasing its market share to 6.2% from 5.8% in the whole of last year.
Samsung SDI’s main customers are BMW, Volkswagen and Ford. The company plans to invest 1.2 trillion won (6.98 billion RMB) to increase the capacity of its Hungarian battery plant to 18 million cells per month by 2030, further strengthening its battery delivery capacity to European customers and increasing its international market share.
SK Innovation, a unit of South Korea’s SK Group, entered the power battery business in 2005 and has been a major supplier to local brands Kia and Hyundai in its early days. In 2010, it became the designated supplier of South Korea’s first pure electric vehicle BlueOn and Kia Ray. Since 2012, it has provided batteries for Mercedes-AMG’s first pure electric vehicle SLSAMge-Cell. SK Innovation already has the whole value chain required by battery manufacturing such as electrode, separation film, battery module and battery pack.
In the first half of this year, SKI realized the global power battery installation capacity of 4.3GWh, and the market share further increased to 4.3%. SKI’s main customers include Kia, Hyundai and Volkswagen.
SKI plans to increase its battery capacity to 200 GWh a year by 2025, up 60% from its previously announced target of 125 GWh. SKI currently has battery plants in the United States, Hungary, China and South Korea, with an annual capacity of approximately 40 GWh.
SKI executives revealed that the company is considering spinning off its battery business and taking it public in order to obtain the capital needed to expand the power battery business.
CALB is a high-tech new energy company jointly invested and established by AVIC and its subordinate units and controlled by CFAC, which is specialized in r&d and production of lithium-ion power batteries and battery management systems. CALB was established in 2007.
In the first half of 2021, CALB achieved power battery installation capacity of 3.4GWh, and its market share also increased to 3.4%.
As the core supplier of GAC EON and Changan New Energy, the supply penetration rate of lithium battery of CALB is steadily increasing. In the first half of this year, the company’s new matching hot models also include Hongguang MINI EV, GAC Toyota iA5, AION Y, Geely Geometry C, etc.
In order to better serve the market and customers, CALB actively prepare for production capacity layout. In 2021, the mass production, construction and production capacity of CALB has reached 100GWh, and the planned production capacity exceeds 300GWh in the 14th five-year plan.
GOTION high-tech was founded in 2006, is a focus on energy storage and application of technology companies, the main products are materials and batteries, lithium iron phosphate ternary batteries, power battery, battery management system and battery energy storage type, used in pure electric commercial vehicles, passenger vehicles, vehicle and hybrid cars and other new energy vehicles and storage areas.
In the first half of 2021, GOTION High-tech achieved 2.25GWh of power battery installations, with a market share of 2.2%.
In terms of market performance, GOTION High-tech maintains the supply base of Shanghai Tong v, Chery Automobile, BAIC New Energy, JAC, Changan Automobile, etc., and has added potential models such as Sihao E10X/E40X/E50A, Zero-run T03, Maple Leaf 80V, Tianji ME7, AND SAIC Datong MAXUS.
In terms of globalization strategy, In July, GOTION Signed a formal agreement with Bosch Group to acquire the latter’s factory in Gottingen, Germany, and establish the first new energy production and operation base of GOTION in Europe. In addition, Hefei GOTION decided to build a 20GWh power battery production base in Hefei Xinzhan High-tech Zone, which will focus on the production and manufacturing of Volkswagen standard battery cells.
Envision AESC is the world’s leading battery technology company. Through AIoT-driven innovations in battery technology And multidisciplinary applications, Envision AESC establishes scenarios to enable electric vehicles to participate in the renewable energy eco-system, and provides a dynamic balance to promote common development of clean energy and new energy electric vehicle industry.
Envision AESC achieved global power battery installation capacity of 1.62GWh in the first half of 2021, ranking ninth in the global power electric installation capacity. On this basis, the europeanization of the Envision AESC has taken great strides.
In June, Envision AESC reached a comprehensive strategic cooperation with Renault Group of France, the European ev sales champion, and Renault will provide Envision AESC with a five-year order of 40GWh to 120GWh power batteries.
In July, Envision AESC and Nissan jointly announced that Envision AESC will supply power batteries for Nissan’s next-generation electric vehicle platform and build the UK’s first power battery gigafactory in sunderland to produce the latest generation of power battery products. The gigafactory will have a capacity of 25GWh per year by 2030. And it has the potential to achieve 35GWh capacity expansion.
Established in 2001, EVE is now a global lithium battery company which possesses core technologies and solutions for consumer, power, IoT and renewable applications.
In the first half of 2021, EVE achieved power battery installation capacity of 0.87GWh, ranking 10th in the world in terms of power electric installation capacity.
In the field of automotive power battery, EVE is one of xiaopeng’s core suppliers. Thanks to the favor of Daimler, Hyundai, Jaguar Land Rover and other international customers, EVE’s power battery business is also accelerating.
It is worth mentioning that in order to control the price fluctuation of raw materials and further guarantee low-cost and high-quality lithium resources, EVE is actively integrating and deeply binding upstream raw materials.
In the end, if you want to know more, you can go through “Top 100 Lithium ion battery Manufacturers in china” in our website, the most of the Top 10 power battery companies in the world are introduced in there with more details such as the company history and main products .